Renewable energy resources such as offshore wind and wave energy are environmentally friendly and omnipresent. A hybrid offshore wind-wave energy system produces a more sustainable form of energy that is not only eco-friendly but also economical and efficient as compared to use of individual resources. The objective of this paper is to give a detailed review of co-generation technologies for hybrid offshore wind and wave energy. The proposed area of this review paper is based on the power conversions techniques, response coupling, control schemes for co-generation and complimentary generation, and colocation and integrated conversion systems. This paper aims to offer a systematic review to cover recent research and development of novel hybrid offshore wind-wave energy (HOWWE) systems. The current hybrid wind-wave energy structures lack efficiency due to their design and AC-DC-AC power conversion that need to be improved by applying an advanced control strategy. Thus, using different power conversion techniques and control system methodologies, the HOWWE structure can be improved and will be transferrable to the other hybrid models such as hybrid solar and wind energy. The state-of-the-art HOWWE systems are reviewed. Critical analysis of each method is performed to evaluate the best possible combination for development of a HOWWE system.