The wave dispersion equation has played a very important role in the development of ocean surface wave theories. The evaluation of the length of a water wave is an essential example of solving the dispersion relation. Conventional ocean wave theories have been based on an assumption of a rigid impermeable seabed. Thus, the conventional wave dispersion equation can only be used in the case of a wave propagating over a rigid impermeable seabed. For waves propagating over a porous seabed (such as a sandy bed), the conventional dispersion relation is no longer valid because of the absence of the characteristics of the porous seabed. The objective of this study is to establish a new wave dispersion equation for waves propagating over a porous seabed. Based on the new relation, the effects of a porous seabed on wave characteristics (such as the wavelength and wave profile) are discussed in detail.