Now-a-days, the energy extraction and conversion from the ocean waves has attracted large attention. A number of wave energy conversion systems have been proposed to convert the mechanical energy of the ocean wave into electrical energy. This paper presents a review of the status of wave energy conversion (WEC) technology and discusses the different types of devices used in present power converter technology for wave energy. Different control strategies used in this area have also been reported. In addition to that, various generator technologies used with WEC are also presented briefly. Finally, the study reports some future directions for research and development.