Assessing corneal biomechanics in vivo has long been a challenge in the field of ophthalmology. Although recent wave-based optical coherence elastography (OCE) methods have shown promise in this area, the effect of intraocular pressure (IOP) on mechanical wave propagation in the cornea remains unclear. To address this, we constructed an artificial eye model and performed surface wave OCE measurements in the radial directions (54–324°) of the silicone cornea at varying IOP levels (10–40 mmHg). The results demonstrated increases in wave propagation speeds (mean ± STD) from 6.55 ± 0.09 m/s (10 mmHg) to 9.82 ± 0.19 m/s (40 mmHg), leading to an estimate of Young’s modulus, which increased exponentially from 145.23 ± 4.43 kPa to 326.44 ± 13.30 kPa. Our implementation of an artificial eye model highlighted that the impact of IOP on Young’s modulus (ΔE = 165.59 kPa, IOP: 10–40 mmHg) was more significant than the effect of stretching of the silicone cornea (ΔE = 15.79 kPa, relative elongation: 0.98%–6.49%). Our study sheds light on the potential of using an artificial eye model in OCE research for corneal biomechanics. Furthermore, it is critical to consider the impact of IOP on measurement results when utilizing wave-based OCE in clinical settings for enhanced assessment of corneal biomechanics.