Non‐buoyant type of wave energy converter is an innovative method to harness ocean waves. In this paper the assessment of heave displacement for non‐buoyant type wave energy converter is investigated by means of artificial neural networks (ANNs). The significant water wave amplitude and time period are chosen as a basis for the heave displacement, and thus these two parameters are considered as effective parameters for the development of ANN model. For this purpose a wide range of dataset of about 4500 data (water wave amplitude and time period (seconds) is considered as input parameter and corresponding heave amplitude of non‐buoyant body is considered as output parameter) is obtained from an extensive laboratory campaign and is used to develop an ANN. The developed model has the capability of predicting the position of non‐buoyant five seconds ahead of actual heave displacement. The AI technique chosen for the model is a nonlinear autoregressive network with exogenous inputs (NARX) trained with the Levenberg‐Marquardt algorithm. A comparative study of 30 different architectures is carried out and finally the best performing ANN architecture is selected and successfully validated based on the measured data.