The “Sharp Eagle” device is a wave energy converter of a hinged double floating body. The wave-absorbing floating body hinges on the semi-submerged floating body structure. Under the action of wave, the wave-absorbing floating body rotates around the hinge point, and the wave energy can be converted into kinetic energy. In this paper, the power take-off system of “Sharp Eagle II” wave energy converter (the second generation of “Sharp Eagle”) was studied, which adopts the hydraulic type power take-off system. The 0−1 power generation mode was applied in this system to make the “Sharp Eagle II” operate under various wave conditions. The principle of power generation was introduced in detail, and the power take-off system was simulated. Three groups of different movement period inputs were used to simulate three kinds of wave conditions, and the simulation results were obtained under three different working conditions. In addition, the prototype of “Sharp Eagle II” wave energy converter was tested on land and in real sea conditions. The experimental data have been collected, and the experimental data and simulation results were compared and validated. This work has laid a foundation for the design and application of the following “Sharp Eagle” series of devices.