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An analysis model of an intracavity optical second-harmonic generation in a vertical-external-cavity surface-emitting laser (VECSEL) is presented. The model is based on the conventional semiconductor rate equations for the carrier and the photon combined with the second harmonic generation process. The parameters used in the model are obtainable from experimental data such as power transfer curves, output spectrum, and cavity configuration. The accuracy of our model is confirmed by comparing experimental and theoretical results. The influences of physically adjustable parameters in the VECSEL on both the lasing performance and the second harmonic generation were thoroughly investigated by utilizing the proposed analysis model.