Gaofen-3 (GF-3), the first Chinese civil C-band synthetic aperture radar (SAR), was successfully launched by the China Academy of Space Technology on 10 August 2016. Among its 12 imaging modes, wave mode is designed to monitor the ocean surface waves over the open ocean. An empirical retrieval algorithm of significant wave height (SWH), termed Quad-Polarized C-band WAVE algorithm for GF-3 wave mode (QPCWAVE_GF3), is developed for quad-polarized SAR measurements from GF-3 in wave mode. QPCWAVE_GF3 model is built using six SAR image and spectrum related parameters. Based on a total of 2576 WaveWatch III (WW3) and GF-3 wave mode match-ups, 12 empirical coefficients of the model are determined for 6 incidence angle modes. The validation of the QPCWAVE_GF3 model is performed through comparisons against independent WW3 modelling hindcasts, and observations from altimeters and buoys from January to October in 2017. The assessment shows a good agreement with root mean square error from 0.5 m to 0.6 m, and scatter index around 20%. In particular, applications of the QPCWAVE_GF3 model in SWH estimation for two storm cases from GF-3 data in wave mode and Quad-Polarization Strip I mode are presented respectively. Results indicate that the proposed algorithm is suitable for SWH estimation from GF-3 wave mode and is promising for other similar data.