A diode-pumped 1.34 μm Nd:GdVO4 laser operating in cw and active Q-switching modes has been demonstrated. 4.15 W of cw output power was obtained at the highest attainable pump power of 12.3 W, resulting in an optical conversion efficiency of 33.7%, the slope efficiency was determined to be 37.6%. In Q-switching operation, a maximum average output power of 2.7 W was generated at pulse repetition frequency (PRF) of 50 kHz, with an optical conversion efficiency of 22% and a slope efficiency of 29.2%. The laser pulses with shortest duration, highest energy and peak power were achieved at PRF of 10 kHz, the parameters being 15 ns, 160 μJ, and 10.7 kW, respectively. By intracavity frequency-doubling with a type II phased-matched KTP crystal, 0.62 W average power at 0.67 μm was produced at a PRF of 15 kHz, the resulting pulse energy, peak power, and pulse width being 41.3 μJ, 2.2 kW, and 19 ns, respectively. A group of analytical formulae, based on rate equations, are presented to evaluate the operational parameters of an actively Q-switched laser. Calculated results were found to be in close consistency with the experimental data.