Optical communication systems have been widely preferred for network communications, especially for Datacoms Local Area Network links. The optical technology is an excellent candidate for on-board systems due to the potential weight saving and EMC immunity. According to the short length of the link and a cost saving, Vertical Cavity Surface Emitting Laser (VCSEL) and multimode fiber are the best solution for gigabit systems. In this context, we propose a modeling of 850nm VCSEL based on the rate equations analysis to predict the optical interconnect performances (jitter, bit error rate). Our aim is to define the operation conditions of VCSEL under large signal modulation in order to maximize the Extinction Ratio (current IOFF below threshold) without affecting link performances. The VCSEL model is developed to provide large signal modulation response. Biasing below threshold causes stochastic turn-on delay. Fluctuations of this delay occur, due to the spontaneous emission. This leads to additional turn-on jitter. These stochastic effects are included in the model by adding the Langevin photon and electron noise sources. The VCSEL behavior under high-speed modulation is studied to observe the transient response and extract the resonance frequency, overshoot and turn-on delay. The associated jitter is evaluated with the standard deviation of the turn-on delay probability density function. Simulations of stochastic and deterministic jitters are realized under different conditions of modulation (OFF current levels). Comparing simulations with measurement results carried out on VCSEL and a short haul gigabit link validates the approach.