The system with one floating rectangular body on the free surface and one submerged rectangular body has been applied to a wave energy conversion device in water of finite depth. The radiation problem by this device on a plane incident wave is solved by the use of an eigenfunction expansion method, and a new analytical expression for the radiation velocity potential is obtained. The wave excitation force is calculated via the known incident wave potential and the radiation potential with a theorem of Haskind employed. To verify the correctness of this method, an example is computed respectively through the bound element method and analytical method. Results show that two numerical methods. are in good agreement, which shows that the present method is applicable. In addition, the trends of hydrodynamic coefficients and wave force are analyzed under different conditions by use of the present analytical method.