The growth, spectroscopic properties, and laser performance of Yb:YVO4 crystal with laser diode pumping are reported. A peak absorption cross section of 7.4 x 10(-20) cm2 at 985 nm, a radiative lifetime of 0.25 ms, and a stimulated-emission cross section of 1.25 x 10(-20) cm2 at 1008 nm for pi polarization were determined for the Yb3+ ions in YVO4. Continuous-wave laser action of Yb:YVO4 at 1020-1027 nm was demonstrated with an output power of 610 mW and a slope efficiency of 49%.