The point absorption wave energy generator has attracted wide attention because of its compact structure, high conversion efficiency, low construction difficulty, high comprehensive performance, low investment cost, not being affected by wave direction, and so on. Point absorption wave energy generators are classified according to wave energy conversion, including mechanical, hydraulic, magnetic fluid, and direct drive. This paper will study the point absorption direct drive wave energy generator. Based on the recent 20 years of research on optimizing wave energy conversion devices at home and abroad, the optimization methods of various functional components in different energy conversion stages are reviewed, including energy capture, energy conversion, and energy output. The future development trend of the point absorption direct drive wave energy generator has been prospected. In addition, the critical problems existing in the wave energy generator are put forward.