In order to reduce comparatively long waves, like swells, a floating breakwater with a water chamber is newly proposed. The influence of piston mode wave resonance in the chamber on the floating body dynamics and wave energy dissipation is extensively examined. We have also examined the performance of a water-chamber type breakwater that is fixed at the water surface. It is intended to know the basic performance of the breakwater without body motions by waves. It is confirmed that the influence of body motions by waves is very strong on the performance of the breakwater. It is also seen that the piston mode wave motion in the chamber affects body dynamics and the dissipation of reflected waves.