The　characteristics　of　polarization　stable　microstructure　vertical-cavity　surface-emitting　lasers　(PS-MS-VCSELs)　with　low　threshold　current　and　single　fundamental　mode　(SFM)　operation　were　theoretically　and　experimentally　investigated.　Elliptical　air　hole　photonic　crystal　(EPC)　structure　was　incorporated　in　the　top　mirror　of　the　MS-VCSELs　to　realize　single　fundamental　mode　operation.　By　controlling　the　mode　loss　difference　among　the　two　orthogonal　modes,　the　fundamental　mode　and　other　high　order　modes　of　the　MS-VCSELs,　through　suitable　oxide　aperture　shape　and　EPC　parameters,　a　high　performance　PS-MS-VCSEL　is　achieved　with　output　power　of　1.6　mW,　low　threshold　current　of　0.8　mA　as　well　as　more　than　20　dB　orthogonal　polarization　suppression　ratio　(OPSR).　(C)　2015　Optical　Society　of　America