Wave energy has the largest reserves and widest distribution among blue energy sources. However, the conversion and utilization of ocean wave energy are challenging. In this work, we developed a contact separation mode triboelectric nanogenerator (TENG) with a simple structure for harvesting wave energy and powering marine sensors and transmitters and performed detailed electrical characterization under controlled laboratory conditions. A prototype power management circuit (PMC) was implemented to improve the output performance of the TENG. The output from the PMC could charge up a storage capacitor for powering sensors and electronics. Eventually, the TENG was integrated within a water-proof enclosure and tested using a custom-built wave simulator to evaluate the device performance in a more representative scenario. The device sustainably powered up an array of 27 LEDs and was able to charge up a capacitor up to 1.8 V for driving an acoustic transmitter. The results demonstrate that TENG technology shows great promise in harvesting low-frequency ocean wave energy.