Ti:Fe:LiNbO3 planar waveguide has been fabricated by Ti-diffusion in Fe:LiNbO3 substrate. Its photorefractive parameters were measured by holographic method. The results indicate that Ti:Fe:LiNbO3 waveguide has higher photorefractive sensitivity, space charge field, and, consequently, larger light induced refractive index change than Ti:LiNbO3. But the transport property of carriers in the waveguide is the same as in bulk.