Ocean wave energy is attractive for its large reserves, exploitability and low emissions. Although many Wave Energy Converter (WEC) concepts have been proposed, high construction cost hinders the engineering application of WECs. Similar challenges arise in the applications of floating breakwaters. The construction cost can be reduced by combining different structures as one integrated system which has the advantage of cost-sharing, space-sharing and multi-functionality. This integrated design approach has stimulated the rapid development of the hybrid system combining floating breakwaters and WECs in recent years. The novel floating breakwater-WEC system is often classified as a wave-energy-utilizing type floating breakwater. The different approaches for integrating floating breakwaters and WECs are summarized in this review. The hydrodynamic performance and power take-off performance of these hybrid floating breakwater-WEC systems are the focus of this review. The insights gained from previous studies of this kind of system and the potential challenges for further developments of this technology are also provided. The cost-sharing and multi-function of the breakwater-WEC system can help facilitate the engineering application of the floating breakwaters and WECs.