Two-ray (TR) fading model is one of the fading models to represent a worst-case fading scenario. We derive the exact closed-form expressions of the generalized moment generating function (G-MGF) for the TR fading model, which enables us to analyze the numerous types of wireless communication applications. Among them, we carry out several analytical results for the TR fading model, including the exact ergodic capacity along with asymptotic expressions and energy detection performance. Finally, we provide numerical results to validate our evaluations.