The results of a simulation study of variable liquid column oscillations in U-tanks with a novel control scheme are presented. The configuration under investigation is analogous to that of the tuned liquid-column damper used to suppress oscillatory motion in large structures like tall buildings and cargo ships. However, by virtue of an adequate controller, the response of amplitude of the U-tanks becomes larger in a desired frequency range. The motion of wave energy conversion system equipped with a variable liquid column oscillator is described by a series of nonlinear differential equations. The equations describe the motion of body under ocean wave excitation, and the motion of liquid with an air-spring effect caused by the compression and expansion of air in vertical liquid columns and air chambers. It is shown that the effect of the air-spring has a vital role to maintain the natural frequency of oscillation in the system to synchronize with the frequency of the ocean wave, thus the system provides the most effective mode for energy extraction from the ocean.