In the present study, the performance characteristics of a Savonius rotor type wave energy converter used in conjunction with a conventional double-buoy floating breakwater is investigated using physical model studies. The Savonius rotor type converter is suspended under the double-buoy floating breakwater to achieve wave attenuation while generating electricity, thereby enhancing the overall wave-elimination effect of the combination. The Savonius rotor is tested with different water submergence depths, and a reasonable relative submergence depth is determined within the scope of the research parameters. The hydrodynamics and energy capture performance of the combined breakwater with four different sizes of Savonius rotor under different wave conditions are studied, and the transmission coefficient of the experimental device is analyzed. The results show that when the optimal relative submergence depth is 0.65D, where D is the impeller diameter, there is a correspondence between the optimal performance of Savonius rotor with different rotor sizes and the wave period and wave height. The optimal energy capture efficiency of the wave energy converter reaches 17%–20.5%, and the transmission coefficient is reduced by 35%–45% compared with the conventional double-buoy breakwater.