In this paper, we demonstrate the design and fabrication of a high-power, high-speed flip-chip vertical cavity surface emitting laser (VCSEL) for light detection and ranging (LiDAR) systems. The optoelectronic characteristics and modulation speeds of vertical and flip-chip VCSELs were investigated numerically and experimentally. The thermal transport properties of the two samples were also numerically investigated. The measured maximum output power, slope efficiency (SE) and power conversion efficiency (PCE) of a fabricated flip-chip VCSEL array operated at room-temperature were 6.2 W, 1.11 W/A and 46.1%, respectively. The measured L-I-V curves demonstrated that the flip-chip architecture offers better thermal characteristics than the conventional vertical structure, especially for high-temperature operation. The rise time of the flip-chip VCSEL array was 218.5 ps, and the architecture of the flip-chip VCSEL with tunnel junction was chosen to accommodate the application of long-range LiDAR. The calculated PCE of such a flip-chip VCSEL was further improved from 51% to 57.8%. The device design concept and forecasting laser characteristics are suitable for LiDAR systems.