The vertical cavity surface emitting laser comprises a substrate, a lower grating layer, an active layer, a contact layer and an upper grating layer which are sequentially arranged from bottom to top, the upper grating layer is arranged in the middle of the contact layer in a protruding mode, and a first step part is formed between the side wall of the upper grating layer and the contact layer; the contact layer and the active layer are arranged in the middle of the lower grating layer in a protruding mode, a second step portion is formed between the side wall of the contact layer and the side wall of the active layer and the lower grating layer, a p-type electrode is further arranged on the contact layer, a heat dissipation electrode is further arranged on the p-type electrode, and the heat dissipation electrode extends to the second step portion from the first step portion. According to the invention, the p-type electrode is arranged on the contact layer, so that the p-type electrode is close to the active layer, and free carrier absorption and spontaneous heating phenomena can be effectively reduced; in addition, the p-type electrode is also provided with the heat dissipation electrode, so that the contact surface between the heat dissipation electrode and the outside is further increased, and the heat dissipation performance of the vertical cavity surface emitting laser is improved.