The invention discloses a method for compressing and reestablishing wave data. The method comprises the steps of selecting bior3.7 wavelets to establish multi-scale decomposition filter groups, and determining that the wavelets are decomposed into two layers, wherein each stage of filter group comprises a low-pass filter group and a high-pass filter group, and all filters are four-passage filters; collecting 64 wave data, and carrying out signal extension on two ends of the collected signals; carrying out continuous filter processing and data extracting processing on the wave data by utilizing the filter groups, and obtaining four groups of data, wherein each group comprises 16 points; selecting a threshold value to carry out soft threshold quantitative processing on a high-frequency coefficient and a low-frequency coefficient in each layer of the first layer and the second layer; carrying out one-dimensional coding on quantified conversion coefficients; ranking the quantified conversion coefficients according to a layer sequence, and carrying out LWZ coding; reestablishing the wavelets of the wave data. After data collected by a wave-height meter is processed by the method, not only is noise eliminated for the collected data, but also the space occupied by the collected data is also compressed, and the wireless transmission speed is increased.