We report on a Yb-pumped optical parametric oscillator (OPO) that delivers 30 fs pulses with spectral coverage from 680 to 910 nm and an average output power of up to 1.1 W. The resulting peak power is ∼0.5 MW, which is, to the best of our knowledge, the highest ever demonstrated in a femtosecond OPO. The intensity noise remains at a level of 0.2% rms, and rapid wavelength tuning is obtained by simply scanning the resonator length. The performances of the OPO are promising for a variety of applications in nonlinear microscopy and ultrafast spectroscopy.