A cylinder rotating in steady current experiences a lift known as the Magnus effect. In the present study the effect of waves on the Magnus effect has been investigated. This situation is experienced with the novel floating offshore vertical axis wind turbine (VAWT) concept called the DEEPWIND concept, which incorporates a rotating spar buoy and thereby utilizes seawater as a roller-bearing. The a priori assumption and the results suggest that the lift in waves, to a first approximation, may be represented by a formulation similar to the well-known Morison formulation. The force coefficients are experimentally found to primarily depend on the ratio between the surface speed of the cylinder and the outer flow velocity. Copyright © 2012 by the International Society of Offshore and Polar Engineers (ISOPE).