A series of laser crystals Nd:LuxGd1−xVO4 (x = 0.14,0.32,0.50,0.61,0.70,0.80) was grown by the Czochralski method. The thermal properties, including the average linear thermal expansion coefficients, thermal diffusion coefficients, specific heats, and thermal conductivities, of the mixed crystals were obtained. The material constants Ms for the thermal stress resistance figure were calculated and showed that the thermal fracture limits of the mixed crystals should be comparable with that of Nd:YVO4. The polarization absorption spectra from 240 to 1000 nm were measured at room temperature and the absorption cross sections at 809 nm were calculated. Using the Judd-Ofelt theory, the theoretical radiative lifetimes were calculated and compared with the experimental results. Continuous wave laser performances were achieved with the mixed crystals at the wavelength of 1.06 μm when they were pumped by a laser diode. Thermal, optical, and laser properties have shown variation as a function of x and proved that the mixed crystals are good laser materials.