The vertical-cavity surface-emitting laser (VCSEL) is usually used as an 850nm short wavelength source for short-distance optical interconnection at normal temperature. In this study, the characterization of the VCSEL at low temperature was mainly studied. The laser spectra and the P-I-V curves are obtained with direct current and pulse current with 10% duty-cycle at different temperatures. It indicates that the VCSEL can work at 10K temperature environment. When the VCSEL laser is driven by direct current in a temperature range from 295 K to 10 K, the central wavelength of the laser is first red-shifted and then blue-shifted due to the change of environmental temperature and thermal effect on the device. With a pulsed-current driven source, the smaller the duty cycle, the less the heat generated by the device will be. The laser spectrum shows a blue-shift trend in the cooling process. The spectral width remains approximately stable in the cooling process. With temperature decreasing, the laser threshold current increases, and the lower the temperature, the larger the threshold current will be. It shows that the cavity mode and the gain spectrum shift with temperature changing. The cavity mode and the gain spectrum both shift to red with temperature increasing, and they shift to blue with temperature decreasing. But their shifting speeds are different. The mismatch between the cavity mode and the gain curve causes the device to need more energy for lasing. So the laser will work at a higher current driven at low temperature. The laser can work at low temperature as a stable light source. Therefore, the VCSEL has potential applications in optical interconnection system as a source at low temperature.