Structural integrity has remained a challenge for design and analysis of wave energy devices. A difficulty in assessment of the structural integrity is often laid in the accurate determination of the wave-induced loads on the wave energy devices and the repones of the structure. Decoupled hydroelastic response of a submerged, oscillating wave energy device to extreme nonlinear wave loads is studied here. The submerged wave energy device consists of an oscillating horizontal disc attached to a direct-drive power take-off system. The structural frame of the wave energy device is fixed on the seafloor in shallow water. Several extreme wave conditions are considered in this study. The nonlinear wave loads on members of the submerged structure are obtained by use of the level I Green-Naghdi equations and Morison’s equation for cylindrical members. Distribution of Von Mises stresses and the elastic response of the structure to the extreme wave loads are determined by use of a finite element method. The decoupled hydroelastic analysis of the structure is carried out for devices built by four different materials, namely stainless steel, concrete, aluminium alloy, and titanium alloy. The elastic response of these devices is studied and results are compared with each other. Points of maximum stress and deformations are determined and the structural integrity under the extreme conditions is assessed. It is shown that the proposed approaches provide invaluable information about the structural integrity of wave energy devices.