Providing energy without unfavorable impacts on the environment is an important issue for many countries. Wave energy is one of the renewable resources with high potential and low impact on the environment, especially in coastal regions. The estimation of the wave characteristics is essential for selection of the appropriate location for wave energy exploitation. In this study, SWAN (Simulating WAves Nearshore) was used for modeling of the wave characteristics and to describe the existence and variability of wave energy in the southern part of the Caspian Sea. The model results were calibrated and verified using in-situ buoy measurements. Wave parameters were simulated and the annual wave energy was estimated in the study area. Then, high-energy spots were determined and the monthly average wave energy and seasonal variations of wave energy in the selected site were investigated. Furthermore, wave energy resource was characterized in terms of sea state parameters i.e. significant wave heights, wave periods and mean directions for selecting the most appropriate wave energy converters in the selected site. It was found that January and February, i.e. winter months, are the most energetic months and the main wave directions with the highest frequencies are northeast and northern-northeast in this site.