The present invention relates to a wave-power generation apparatus installed underwater, in which a hollow-type rotary body (10) comprising a substrate portion (11), a neck portion (12), and a bottom portion (13) is submerged and installed right below the water surface to be reciprocally rotated due to waves so that power required for generation can be provided. Therefore, the present invention can fully use energy of the waves and minimize loss of the energy caused in the generation process so as to dramatically increase efficiency of wave-power generation.
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