The main aim of this paper is to investigate the long-term wind and wave characteristics and their power in the Oman Gulf from 1979 to 2020 based on the ERA5 reanalysis hourly dataset with a fine spatial resolution (0.1° × 0.1°). In this regard, the spatial and temporal distributions of the significant height of combined wind waves and swell, mean wave direction, mean wave period, wave power per unit of wave-crest length, ocean surface stress equivalent 10 m neutral wind speed, and wind power per unit area are comprehensively analyzed. Furthermore, the annual, seasonal, and monthly variability indices are provided to evaluate the wind and wave power temporal variability in the studied area. Moreover, a comprehensive analysis of the wind and wave power resource is discussed for sixteen selected locations near the Oman Gulf coasts. Finally, the performance and applicability of five wave energy converter (WEC) technologies are estimated at selected locations using four common indices. The results show that the Oman Gulf has more potential wind and wave power resources especially in the southern parts of the Indian Ocean. The annual mean of wind and wave power in the southern areas reach up to 160 W/m2 and 4.5 kW/m, respectively. The highest wind and wave power occur in summer due to the monsoon period, while decline to their lowest value in fall. From the monthly perspective, the maximum wind and wave power occur in July and the minimum appears in November. In the studied locations, the wave power is mainly the result of energy periods between 3 and 6 s and signiﬁcant wave heights up to 1 m. Moreover, the Wave Dragon generates maximum power at selected locations compared to all considered WECs.