The action of water waves moving over a porous seabed drives a seepage flux into and out of the marine sediments. The volume of fluid exchange per wave cycle may affect the rate of contaminant transport in the sediments. In this paper, the dynamic response of the seabed to ocean waves is treated analytically on the basis of poro- elastic theory applied to a porous seabed. The seabed is modelled as a semi-infinite, isotropic, homogeneous material. Most previous investigations on the wave–seabed interaction problem have assumed quasi-static conditions within the seabed, although dynamic behaviour often occurs in natural environments. Furthermore, wave pressures used in the previous approaches were obtained from conventional ocean wave theories, which are based on the assumption of an impermeable rigid seabed. By introducing a complex wave number, we derive a new wave dispersion equation, which includes the seabed characteristics (such as soil permeability, shear modulus, etc.). Based on the new closed- form analytical solution, the relative differences of the wave-induced seabed response under dynamic and quasi- static conditions are examined. The effects of wave and soil parameters on the seepage flux per wave cycle are also discussed in detail.