In this study, wake of an elliptic cylinder is analyzed in the presence of a fluid–fluid interface. The interactions between the interface and flow affect each other and hence different wake dynamics and interface topologies are observed. The numerical solver developed for this study has immersed boundary method (IBM) coupled with level-set method (LSM). The proximity of the elliptical cylinder to the interface (H/D), Froude number (Fr), and angle of incidence (AOI) are the parameters considered. Three different Froude number regimes are considered for this study, namely, subcritical (Fr < 1), critical (Fr = 1.0), and supercritical (Fr >1) regime. In this paper, the interface topology, wake dynamics, and force values are compared for the variation of these parameters.