The water wave-based energy transfer system is a system for generating electrical power from the natural motion of water waves, such as ocean waves. The system includes an anchor adapted for stationary lodgment on an underwater support surface, such as the ocean floor, and at least one buoyant float provided for floating either on or below the ocean surface. At least one primary cable joins the at least one buoyant float to the anchor, and a secondary cable joins the at least one buoyant float to a tensioning device coupled with a power conversion and generation device on the shore. The oscillatory motion of the at least one buoyant float caused by the water waves or swells generates oscillatory motion in the second cable, which drives the power conversion and generation device.