Photovoltaic converters of high-power (λ = 800–860 nm, ELR = 150–550 W/cm2) laser radiation (PhotoVoltaic Laser Power Converters – PVLPCs) based on AlGaAs/GaAs heterostructures grown by metalorganic vapor-phase epitaxy have been developed. To increase the output voltage, the space charge region of p-GaAs/n-AlхGa1-хAs heterojunction was shifted to the n-AlхGa1-хAs wide-gap layer with a gradual “x”. The technology for embedding a rear reflector based on TiOx/SiO2/Ag into the photovoltaic converter structure by “transferring” the heterostructure to a supporting substrate and the method of bonding to form a monolithic structure of the PVLPC has been elaborated. To operate the heterostructures at an increased power density of laser radiation, they have been designed to eliminate possible potential barriers at the heterointerfaces and the frontal contact topology with a high density of the metal grid (50 μm and 125 μm contact pitch are under consideration) has been employed. PVLPCs with efficiency of 62% were obtained at the power density of monochromatic radiation (λ = 850 nm) ELR = 170 W/cm2. The finger pitch of 50 μm allows keeping efficiency more than 56% even with a fivefold increase in laser radiation (up to ELR = 500 W/cm2). •AlGaAs/GaAs photovoltaic converters of high-power laser radiation were grown by MOVPE.•p-GaAs/n-AlGaAs heterojunction is used for decreasing injection current.•Carrier lifetime is increased with rear reflector for "inverted" heterostructure.•Optimal front contact pitch for both high laser power and for high SR is developed.•PVLPC efficiency doesn't fall below 56% for laser power up to 0.5 kW/cm2 (62% max.eff).