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A high-power diode-pumped passively mode-locked Nd:YVO4 laser at 1342 nm with a semiconductor saturable absorber mirror is demonstrated in this letter. With the optimum cavity design, the maximum average output power of 2.19 W is obtained with an incident pump power of 12.35 W, corresponding to a slope efficiency of 19% and an optical conversion efficiency of 17.7%. The minimum pulse duration is measured to be 8.6 ps with the repetition rate of 63.4 MHz. The single pulse energy and peak power are calculated to be 34.5 nJ and 4 kW, respectively.