The safety of submerged buoy is higher than traditional buoy. The most important problem for submerged buoy is that signal will be attenuated greatly due to ocean wave fluctuation and seawater. On the basis of ocean wave model, propagation characteristics of electromagnetic wave in seawater channel for submerged buoy is analyzed in this letter. It includes the propagation properties of electromagnetic wave in seawater and across the air-sea interface. The results show that the VHF frequency band, first order sea level and water depth of less than 10 cm are acceptable for submerged buoy.