An immersed liquid cooling slab laser is demonstrated with deionized water as the coolant and a Nd:YAG slab as the gain medium. Using waveguides, a highly uniform pump beam distribution is achieved, and the flow velocity distribution is also optimized in the channels of the gain module (GM). At various flow velocities, the convective heat transfer coefficient (CHTC) is obtained. Experimentally, a maximum output power of 434 W is obtained with an optical–optical efficiency of 27.1% and a slope efficiency of 36.6%. To the best of our knowledge, it is the highest output power of an immersed liquid cooling laser oscillator with a single Nd:YAG slab.