Accurate modeling and efficient parameter extraction of the microwave equivalent circuit model of high-speed quantum-well lasers for high-frequency operation based on the rate equations are presented in this paper. The model takes into account the intrinsic nonlinear behavior of the device, the effect of heterojunction, and the parasitic elements due to the various levels of the packaging hierarchy to ensure a realistic representation of the input of the quantum-well lasers. The model is versatile in that it permits dc, small signal, and large signal to be performed. A direct extraction method to determine the extrinsic and intrinsic model parameters for laser diode by using a set of closed-form expressions based on the dc, input reflection coefficients, and modulation responses on wafer measurement is given also. Simulated and measured results for the dc, input reflection coefficients, and modulation responses exhibit good agreement over a wide range of bias points.