The primary payload onboard the Gaofen-3-02 (GF3-02) satellite is a C-band Synthetic Aperture Radar (SAR) capable of achieving a maximum resolution of 1 m. This instrument is critical to monitor the marine environment, particularly for tracking sea surface wind speeds, an important marine environmental parameter. In this study, we utilized 192 sets of GF3-02 SAR data, acquired in Quad-Polarization Strip I (QPSI) mode in March 2022, to retrieve sea surface wind speeds. Prior to wind speed retrieval for vertical-vertical (VV) polarization, radiometric calibration accuracy was analyzed, yielding good performance. The results showed a bias and root mean square errors (RMSEs) of 0.02 m/s and 1.36 m/s, respectively, when compared to the European Centre for Medium-Range Weather Forecasts (ECMWF) Reanalysis V5 (ERA5) data. For horizontal–horizontal (HH) polarization, two types of polarization ratio (PR) models were introduced based on the GF3-02 SAR data. Combining these refitted PR models with CMOD5.N, the results for HH polarization exhibited a bias of −0.18 m/s and an RMSE of 1.25 m/s in comparison to the ERA5 data. Regarding vertical–horizontal (VH) polarization, two linear models based on both measured normalized radar cross sections (NRCSs) and denoised NRCSs were developed. The findings indicate that denoising significantly enhances the accuracy of wind speed measurements for VH polarization when dealing with low wind speeds. When compared against buoy data, the wind speed retrieval results demonstrated a bias of 0.23 m/s and an RMSE of 1.77 m/s. Finally, a comparative analysis of the above retrieval results across all three polarizations was conducted to further understand their respective performances.