This is the first assessment of the wave energy resource in Peru, an emerging country with an increasing energy demand and a high dependence on fossil fuels. On the basis of wave buoy measurements, we characterize the offshore wave energy resource and analyze its temporal variability, comparing the results with those obtained in previous works for other regions. A wave propagation numerical model (SWAN) is used to determine the nearshore spatial distribution of wave energy. A total of 357 offshore sea states, representing 90% of the wave energy and 94% of the time in an average year, were propagated. The wave energy in Peru presents a resource exceeding by more than seven times the total electric demand of the country. Because of the large amount of resource available and its low seasonal variation, wave energy must be considered in Peru as an alternative to conventional energy resources.