The escalating impact of climate change has spurred global efforts to switch from conventional fossil fuels to sustainable energy sources, thus mitigating CO2 greenhouse gas emissions. Malaysia, a nation geographically enveloped by extensive coastlines and vast oceans, holds immense potential for tapping into ocean renewable energy resources. This research endeavors to pioneer an evaluation of Malaysia's ocean renewable energy potential, which focuses on the assessment of standalone wind and also the wave systems, as well as the combination of hybrid wind-wave system. Identifying two strategically significant locations for potential analysis, the study leverages metocean data to delve into the intricacies of power output from solo wind, wave, and hybrid systems. The comprehensive evaluation encompasses production rates, capacity factors, and levelized costs of energy for the selected sites. By scrutinizing these essential metrics, the study not only sheds light on the untapped ocean energy potential in Malaysia but also offers critical insights into the economic viability and performance of standalone and integrated renewable energy systems. The study emphasizes the importance of considering intra-annual fluctuations in estimating power production for consistent energy supply in oil and gas activities. Three scenarios were analyzed for each location: (1) wind only, (2) wave only, and (3) both combined. The results demonstrate that the combined solution improves overall energy production, reducing intermittent and intra-annual variability. Capacity factors for the combined solution surpass those of individual solutions, showing increased efficiency. The calculated Levelized Cost of Electricity (LCOE) for combined solutions is generally more attractive than standalone systems, especially at the L site. The potential for reduced LCOE is attributed not only to increased Annual Energy Production (AEP) and Capacity Factor (CF) but also to cost reductions in both CAPEX and OPEX due to expected synergies. The outcomes of this research are poised to inform sustainable energy strategies in Malaysia, guiding policymakers, environmentalists, and energy developers towards a more informed and holistic approach to leveraging the country's abundant ocean resources for renewable energy production. As Malaysia seeks to diversify its energy portfolio and contribute to global sustainability goals, this study provides a crucial foundation for future developments in the field of marine renewable energy. Copyright © 2024, Offshore Technology Conference.