In this paper, we present a comprehensive numerical simulation of a point wave absorber in deep water. Analyses are performed in both the frequency and time domains. The converter is a two-body floating-point absorber (FPA) with one degree of freedom in the heave direction. Its two parts are connected by a linear mass-spring-damper system. The commercial ANSYS-AQWA software used in this study performs well in considering validations. The velocity potential is obtained by assuming incompressible and irrotational flow. As such, we investigated the effects of wave characteristics on energy conversion and device efficiency, including wave height and wave period, as well as the device diameter, draft, geometry, and damping coefficient. To validate the model, we compared our numerical results with those from similar experiments. Our study results can clearly help to maximize the converter’s efficiency when considering specific conditions.