Array gain is investigated based on the acoustic channel characteristics manifested by the fluctuant transmission loss and decrease in the acoustic channel spatial coherence. An analytical expression is derived as the summation of the products of the acoustic channel correlation coefficients and root-mean-square pressures. The formula provides insight into the physical mechanisms of the gain degradation in the ocean waveguide. Furthermore, this formula provides a new method to study array gain in the ocean waveguide from underwater acoustic field. The obtained expression is a more general formula that is applicable to shallow water, deep sea, and continental slope, with the traditional methods as a special case. Numerical results show that the array gain calculated by previous formulas are generally overestimated, caused by ignoring the effect of transmission loss fluctuation.