In this paper, a hybrid system integrating a fixed breakwater and an oscillating buoy type wave energy converter (WEC) is introduced. The energy converter is designed to extract the wave power by making use of the wave-induced heave motions of the three floating pontoons in front of the fixed breakwater. A preliminary experimental study is carried out to discuss the hydrodynamic performance of the hybrid system under the action of regular waves. A scale model was built in the laboratory at Hohai University, and the dissipative force from racks and gearboxes and the Ampere force from dynamos were employed as the power take-off (PTO) damping source. During the experiments, variations in numbers of key parameters, including the wave elevation, free response or damped motion of the floating pontoons, and the voltage output of the dynamos were simultaneously measured. Results indicate that the wave overtopping and breaking occurring on the upper surfaces of floating pontoons have a significant influence on the hydrodynamic performance of the system. For moderate and longer waves, the developed system proves to be effective in attenuating the incident energy, with less than 30% of the energy reflected back to the paddle. More importantly, the hydrodynamic efficiency of energy conversion for the present device can achieve approximately 19.6% at the lowest wave steepness in the model tests, implying that although the WEC model harnesses more energy in more energetic seas, the device may be more efficient for wave power extraction in a less energetic sea-state.