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A mathematical model is developed to investigate the performance of a hybrid system comprising semi-submersible floating offshore wind turbines (FOWT) coupled to an array of point-absorbing wave energy converters (WECs) under irregular waves and dynamic winds. In this study, the hydrodynamic interaction of the hybrid system is conducted by applying the matching-method of eigenfunctions to solve the diffraction and radiation velocity potentials. Non-linearities of the hybrid system are taken into account in the Cummins framework, covering aerodynamic, catenary mooring, PTO system, fluid viscosity modeling, and frequency–time domain transformation of hydrodynamic coefficients. After running the convergence analysis and model validation, the present model is employed to perform a multiparameter effect analysis. Case studies are presented to clarify the effects of WEC parameters (including radius, draft, PTO damping, and layout) on the performance of a hybrid system. Nevertheless, a significant aspect of this work revolves around the development of a precise and efficient mathematical model, capable of accurately computing hydrodynamic coefficients for specific marine structures and evaluating the motion response of the interconnected floaters. Additionally, the study offers valuable insights into the preliminary design of hybrid systems and lays a mathematical foundation along with corresponding code for hybrid system projects. • An accurate and efficient model is presented to calculate the hydrodynamic coefficients of hybrid systems. • A practical mathematical model has been developed to evaluate the dynamic performance of coupled marine structures. • Integrating WECs significantly reduce the power spectrum density in pitch mode of the wind platform. • Linear PTO contributes more to platform stability than quadratic and constant PTO systems. [ABSTRACT FROM AUTHOR]