Large ocean waves with large wave height may destroy the ship’s structure, whereas it is difficult to predict the nonlinear dynamic strength in the large waves. In this study, we used a nonlinear simulation based on boundary element method (BEM)-finite element method (FEM) and a collapse experiment of ship model to study dynamic ultimate strength and dynamic course of collapse of ship structure, the collapse test was performed in regular tank wave. Besides, a simulation method for nonlinear dynamic ship strength was proposed to predict and compare the results of collapse test. A collapsed model consisting of a plastic hinge and two ship strips is designed. Subsequently, we performed the nonlinear simulation of the ultimate strength of ship model induced by tank wave. Wave loads were calculated following potential theory and BEM. Next, ship structural FEM model was modeled, the ship pressure was transferred to ship wet surface elements, and inertia force was exerted as well. Finally, the nonlinear dynamic strength calculation of ship model was performed in accordance with nonlinear FEM. A four-point-bending test adopted displacement controlling method was designed to obtain the hysteresis characteristic of the elastoplastic hinge. Hysteretic test and simulation analysis was performed to determine post-ultimate bending moment. Time-domain computational results including rotation angle history and vertical bending moment are close to collapse test results so that the two methods are verified. This study verifies that structural nonlinearities of ship structure induced by wave loads could be predicted.