An omni-directional system configured to convert the kinetic and potential energy in ocean waves to electrical energy or in some special cases to other forms of energy such as heat, mechanical and pressure energy. The system employs a float moored by a single hydraulic cylinder anchored to the seabed. Wave energy is captured as the float is displaced vertically and horizontally in response to wave action extending the hydraulic cylinder that in turn forces fluid under high pressure to the float where appropriate valves, hydraulic accumulators, and variable displacement hydraulic motors are arranged to drive electric generators. A secondary benefit of the system is the reduction of near shore erosion.