High‐power cw operation of horizontal‐cavity, monolithic InGaAs/GaAs surface‐emitting lasers with all dry etched micro‐mirrors has been demonstrated for the first time. The 45° and 90° micro‐mirrors of the devices were fabricated by ion‐beam etching and reactive ion etching techniques, respectively. Threshold‐current densities of less than 500 A/cm2, external differential quantum efficiencies of 10% (0.12 W/A) from the emitting facet, and output powers in excess of 100 mW were achieved from uncoated devices driven under cw operation.