According to Newton’s Second Law and the microwave theory, mechanical analysis of multiple buoys which form Sharp Eagle wave energy converter (WEC) is carried out. The movements of every buoy in three modes couple each other when they are affected with incident waves. Based on the above, mechanical models of the WEC are established, which are concerned with fluid forces, damping forces, hinge forces, and so on. Hydrodynamic parameters of one buoy are obtained by taking the other moving buoy as boundary conditions. Then, by taking those hydrodynamic parameters into the mechanical models, the optimum external damping and optimal capture width ratio are calculated out. Under the condition of the optimum external damping, a plenty of data are obtained, such as the displacements amplitude of each buoy in three modes (sway, heave, pitch), damping forces, hinge forces, and speed of the hydraulic cylinder. Research results provide theoretical references and basis for Sharp Eagle WECs in the design and manufacture.