Underwater real-time observation submerged buoy and its technology development are introduced in this paper. Based on the submerged buoy technology and utilizing the technical approaches such as underwater winch，self-lifting communication buoy，underwater glider and wave glider，underwater real-time observation system schemes are designed. The key technology of underwater real-time data transmission is discussed，and the function verification test of data transmission for underwater real-time observation is carried out，which preliminarily realizes the real-time/quasi-real-time transmission of observation data.