Structural stability of floating platforms has long since been a crucial issue in the field of marine engineering. Excessive motions would not only deteriorate the operating conditions but also seriously impact the safety, service life, and production efficiency. In recent decades, several control devices have been proposed to reduce unwanted motions, and an attractive one is the tuned heave plate (THP). However, the THP system may reduce or even lose its effectiveness when it is mistuned due to the shift of dominant wave frequency. In the present study, a novel adaptive tuned heave plate (ATHP) is proposed based on inerter by adjusting its inertance, which allows to overcome the limitation of the conventional THP and realize adaptations to the dominant wave frequencies in real time. Specifically, the analytical model of a representative semisubmersible platform (SSP) equipped with an ATHP is created, and the equations of motion are formulated accordingly. Two optimization strategies (i.e., J1 and J2 optimizations) are developed to determine the optimum design parameters of ATHP. The control effectiveness of the optimized ATHP is then examined in the frequency domain by comparing to those without control and controlled by the conventional THP. Moreover, parametric analyses are systematically performed to evaluate the influences of the pre-specified frequency ratio, damping ratio, heave plate sizes, peak periods and wave heights on the performance of ATHP. Furthermore, a Simulink model is also developed to examine the control performance of ATHP in the time domain. It is demonstrated that the proposed ATHP could adaptively adjust the optimum inertance-to-mass ratio by tracking the dominant wave frequencies in real time, and the proposed system shows better control performance than the conventional THP.