In this paper, a statistical analysis on wind and wave buoy measurements and wind and wave model forecasts obtained during a two-year period (1999-2001) is presented with reference to four characteristic near-shore sites of the Aegean Sea. The measurements are a main product of the "POSEIDON" system aiming at the monitoring and forecasting of the state of the Greek seas, operated by the National Centre for Marine Research (NCMR). Although the two-year period is rather short for a thorough analysis of the local wind and wave climate, yet the obtained results, presented herein for the first time, reveal some interesting features of the corresponding wave and wind characteristics. Comparisons between the measurements and the forecast results are also performed at the locations under consideration. It is found that (i) wind speeds obtained from the POSEIDON weather forecasting system are, in general, in agreement with the measurements, except for high wind speeds which are systematically underestimated, (ii) the WAM model can successfully follow the monthly and over year trend of the evolution of wind and wave characteristics, but face significant problems for efficient sea-state forecasting. Finally, the overall pattern of the wind/wave climate for the entire Aegean Sea as obtained from the models is presented by means of the spatial distribution of the mean annual wind and sea-state intensity.