We present the boundary value problem (BVP) for the heave motion due to a vertical circular cylinder in water of finite depth. The BVP is presented in terms of velocity potential function. The velocity potential is obtained by considering two regions, namely, interior region and exterior region. The solutions for these two regions are obtained by the method of separation of variables. The analytical expressions for the hydrodynamic coefficients are derived. Computational results are presented for various depth to radius and draft to radius ratios.