Recently, electrical engineers are paying great attention to develop oceanic wave energy conversion technologies based on the piezoelectric materials because of their excellent conveniences. Piezoelectric oceanic wave energy converters (OWECs) have several benefits over the others such as its small size, lightweight, no requirement of using intermediate device as well as having less negative impacts on the oceanic environment. Various review and research papers focus on the piezoelectric devices, their operation and application for oceanic energy conversion. But, to the best of the authors’ knowledge, none of the existing research or review papers present detailed scheme of piezoelectric device based power generation covering all the relevant topics as depicted in this review. This article focuses different aspects of piezoelectric device based oceanic wave energy conversion technology including prospect, historical development, classification, operating principle, configuration, arrangement, model, processing, post-processing, and their test setups. In addition, technical challenges, future direction of research and critical review are also illustrated. It is assumed that, this article would play a significant role for the future development of piezoelectric OWECs and the researcher working in this field.