An exact second-order formulation is presented for computing the slowly varying second-order hydrodynamic forces on floating structures in irregular waves. The near-field approach based on direct integration of the fluid pressure on the submerged body surface is employed in conjunction with numerical first-order solutions by means of the hybrid finite element technique. Green’s second identity is exploited to evaluate the second-order forces due to the second-order velocity potential. Numerical results are presented for the slow drift excitation forces on an articulated column and a semi-submersible platform. It is shown that the contribution from the second-order velocity potential is more significant to the roll moment than to the sway and heave forces on the semi-submersible.