Abstract: The power take-off (PTO) system is an important element of a wave energy converter (WEC). This paper presents a novel hydraulic PTO system for wave power generation that is equipped with a speed-regulating valve and relief valve to regulate its working flow and power output. Then, a 2 kW hydraulic PTO system of this type is designed and numerically simulated in AMESim to verify its feasibility. Simulation results show that under the design wave condition, this system produces a continuous, steady power output of 2 kW and 50 Hz through stabilizing the output voltage and current effectively by the accumulator, stabilizing the oil pressure and flow by timely oil supply from the oil tank, and imposing flow "rectification" by the check valves. Under large wave conditions, it can also keep a 2 kW steady power output, with the throttling of its speed-regulating valve and the overflowing of its relief valve. Thus, our hydraulic PTO system for wave power generation is technically feasible.