We report on the spectroscopy and, for the first time to our knowledge, continuous-wave and Q-switched diode-pumped laser operation of Er,Yb:YVO4 crystal. Absorption and emission spectra of the crystal were determined. Lifetimes of Er3+ 4 I 13/2 and 4 I 11/2 levels that define laser performance of the crystal were measured and parameters of energy transfer between Yb3+ and Er3+ ions were estimated. cw output power of 115 mW with slope efficiency of 5.4% was achieved at 1604 nm. In the Q-switched mode an average output power of 81 mW with slope efficiency of 3.5% and pulse duration of 150 ns was obtained. In quasi-cw regime maximal peak power of 610 mW with slope efficiency of 6.7% was demonstrated.