We report on the observation of high-efficiency frequency doubling of 1550 nm continuous-wave laser light in a nonlinear cavity containing a periodically poled potassium titanyl phosphate crystal (PPKTP). The fundamental field had a power of 1.10 W and was converted into 1.05 W at 775 nm, yielding a total external conversion efficiency of 95±1%. The latter value is based on the measured depletion of the fundamental field being consistent with the absolute values derived from numerical simulations. According to our model, the conversion efficiency achieved was limited by the nonperfect mode matching into the nonlinear cavity and by the nonperfect impedance matching for the maximum input power available. Our result shows that cavity-assisted frequency conversion based on PPKTP is well suited for low-decoherence frequency conversion of quantum states of light.