In this paper we discuss the structural and o p & l properties of strain balanced InP/GaAs/GaF'/GaAs superlattices. Structural properties of grown epilayers are discussed in the light of high resolution x-ray diffraction and transmission electron microscopy analysis. Perfectly strain balanced structures were realized using chemical beam epitaxy, i.e. the global mismatch introduced in 0.9 pm thick stnicture is below 8~l O -~ as determined by high resolution (400) diffraction patterns. Furthermore. pure tetragonal deformations, as determined by asymmetric (5 11) diffraction analysis confirm the pseudomorphism conservation. The optical properties of these superlattices were studied using low temperature photoluminescence spectroscopy and photoluminescence excitation spectroscopy.