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The fundamental and dynamic properties of InGaAs-InGaAsP lasers, where emission wavelengths were blue-shifted by quantum-well intermixing through ion implantation and annealing, were investigated to assess possible degradation by intermixing. It was found that the fundamental properties such as threshold current and slope efficiency were largely unchanged even after as much as 120 nm of wavelength shift. Meanwhile, the dynamic properties such as modulation efficiency and K factor were degraded after just a moderate degree of intermixing, but the degradation was not worsened by further intermixing. Provided the finite degradation of dynamic properties is tolerable, the present intermixing technique will be very useful for the fabrication of photonic integrated circuits.