The influence of oxidation aperture on the output characteristics of the circularly symmetric vertical-cavity-surface-emitting laser (VCSEL) structure is investigated. To do so, VCSELs with different oxide aperture sizes are simulated by the finite-difference time-domain (FDTD) method. The relationships among the field distribution of mode superposition, mode wavelength, output spectra, and far-field divergence with different oxide apertures are obtained. Further, VCSELs respectively with oxide aperture sizes of 2.7 μm, 4.4 μm, 5.9 μm, 7 μm, 8 μm, 9 μm, and 18.7 μm are fabricated and characterized. The maximum output power increases from 2.4 mW to 5.7 mW with oxide aperture increasing from 5.9 μm to 9 μm. Meanwhile, the wavelength tuning rate decreases from 0.93 nm/mA to 0.375 nm/mA when the oxide aperture increases from 2.7 μm to 9 μm. The thermal resistance decreases from 2.815 °C/mW to 1.015 °C/mW when the oxide aperture increases from 4.4 μm to 18.7 μm. It is demonstrated theoretically and experimentally that the wavelength spacing between adjacent modes increases with the augment of the injection current and the spacing becomes smaller with the oxide aperture increasing. Thus it can be reported that the aperture size can effectively reduce the mode overlaying but at the cost of the power decreasing and the wavelength tuning rate and thermal resistance increasing.