In this paper, a theoretical study is presented concerning power extraction via the Vortex-Induced-Vibration (VIV) of a circular cylinder in a dual-mass configuration. The dual mass system is modeled as a simplified two-degrees-of-freedom mechanical system where fluid forces on the circular cylinder are taken out of experimental data from forced vibration tests. It is shown that power extraction can be optimized in certain reconfiguration scenarios if dual mass parameters (i.e.: secondary mass and stiffness between masses) are chosen appropriately. More specifically, system behavior is characterized as a function of the governing parameters, and performance charts are presented that could be used for parameter selection purposes in an engineering environment. Limitations and benefits of the redesigning with respect to the absence of the dual-mass is also presented.