This paper deals with a wave power generation system with water-valve rectifer. The water-valve rectifer converts oscillating air flow into steady air flow. The rectifier doesn't have a mechanical moving element, so the system is simple and maintenance free. However, because of the characteristic form of the rectifier, the loss in the rectifier is large and it is difficult to understand the characteristics of loss. In the paper, we indicate the characteristics by changing the cross-sectional area and the number of air pipes which affects the loss of water-valve rectifier.