This study aims to investigate wave power along the northern coasts of the Gulf of Oman. To simulate wave parameters the third generation spectral SWAN model was utilized, and the results were validated with buoy and ADCP data. First, annual energy was calculated in the study region with the hindcast data set covering 23 years (1985–2007). The areas with the highest wave resource were determined and the area proximity to the port of Chabahar is suggested as the best site for the installation of a wave farm. Second, the average monthly wave energy in this area was investigated. The most energetic waves are provided by the southeast Indian Ocean monsoon from June to August. Finally, the wave energy resource was characterized in terms of sea state parameters. It was found that the bulk of annual wave energy occurs for significant wave heights between 1 and 3 m and energy periods between 4 and 8 s in the direction of SSE.