Ocean wave energy resource potential is vast, and it can significantly contribute to the global energy needs if efficiently explored. However, the commercial harvesting of wave energy is still in its infancy when compared to wind and solar energy. A wave energy converter needs to be able to optimally harvest wave energy and survive the harsh ocean environment at the same time. Of the different types of available wave energy harvesting methods, one promising concept is the heaving point absorber where the heave motion due to the interaction between ocean wave and absorber‘s body generates power. To harvest more energy, the heaving point absorber needs to operate at the resonance region during its interaction with the ocean waves to achieve the optimum oscillation, which is the main challenge with this concept due to the irregular frequencies of the real ocean waves. This research designed a self-adjusted wave energy converter based on heaving point absorber concept that is capable of harvesting wave energy optimally at multiple frequencies and is able to survive the ocean environment during its operating and design life at the same time. Theoretical hydrodynamic and diffraction of floating bodies, computational fluid dynamics, and finite element analysis tools as well as relevant design codes of practice were applied to determine the device power capture rate, stability, static, and its fatigue responses using real ocean wave data from the Gulf of Mexico. Three objectives were set and achieved, including 1) To create a conceptual design of a self-adjusted WEC based on heaving point absorber concept through the optimization of its dimensions, 2) To simulate and estimate the energy capture of the self adjusted WEC through the use of computational fluid dynamics and finite element analysis tools, and 3) To perform a structural reliability analysis of the self-adjusted WEC to ascertain its survivability in the ocean environment. A 10 year wave energy data from a location