The hydrodynamic problem is treated here when a pressurized bag is submerged partially in the water and the end points of it oscillate. SES(Surface Effect Ship) has a bag filled with pressurized air at the stern in order to prevent the air leakage, and the pitch motion of SES is largely affected by the hydrodynamic force of the bag. The shape of a bag can be determined with the pressure difference between inside and outside. Once the hydrodynamic pressure is given, the shape of a bag can be obtained, however in order to calculate the hydrodynamic pressure we should know the shape change of the bag, and vice versa. Therefore the type of boundary condition on the surface of a bag is a moving boundary like a free surface boundary. The present paper describes the formulation of this problem and treats a linearized problem. The computations of the radiation problem for an oscillating bag are shown in comparison with the case that the bag is treated as a rigid body. The hydrodynamic forces are calculated for various values of the pressure inside the bag and the submerged depth.