In a wave gear device, similarity curve tooth profiles for defining the tooth-face tooth profile of each of a flexible externally toothed gear and a rigid internally toothed gear is determined from the movement trajectory, relative to a tooth of the rigid internally toothed gear, of a tooth of the flexible externally toothed gear at a main cross-section at which the deflection factor is κ=1. Tooth profile curves, which have been subjected to profile shifting corresponding to the difference between the deflection factor κo (>1) of the opening-end cross-section of the flexible externally toothed gear and the deflection factor κ of the main cross-section, are determined from the similarity curves; and the tooth profile curves are used to form the tooth-face tooth profile portions of the two gears. High-gear-tooth compound tooth profiles, defined from the tooth-face tooth profile portions, straight-line tooth profile portions continuing from the tooth-face tooth profile portions, and appropriate tooth-flank tooth profile portions for avoiding interference are used as tooth profiles of the internal teeth and the external teeth. Also, taking coning of the flexible externally toothed gear into account, negative profile shifting is applied from an opening-end cross-section to an inner-end cross-section of the flexible externally toothed gear, and rational meshing between the two gears is obtained along the entire tooth trace.