Power semiconductor devices are key components for all power electronic circuits. Power diodes play an important role in power electronics. This chapter presents the basic concepts of intrinsic and extrinsic semiconductors. It compares electrical and thermal properties of silicon (Si) and compound silicon-carbide (SiC) materials. The chapter explains Si and SiC pn junction bipolar and Schottky power diodes. It describes the physical structure of the diodes, explains the principle of operation, and presents the DC I–V characteristics. The chapter also analyzes the breakdown voltage, describes the diode capacitances, considers the switching characteristics of pn junction and Schottky diodes, and studies the diode SPICE large-signal model. An understanding of the diode physics that affects the key performance parameters will help in designing the power electronics circuits. An ideal diode conducts current in the on-state with zero voltage drop and blocks voltage in the off-state with zero leakage current.