A mathematical model of a rare-earth doped double-clad fiber laser based on rate equations with spatially averaged parameters laser has been developed. Analytical expressions for the threshold absorbed pump power, slope efficiency and laser output power have been obtained for the CW regime. It has been shown that the results of output power calculations using the analytical model for CW double-clad ytterbium and neodymium doped lasers are in a good agreement with the results obtained using numerical models described in literature. A quantitative criterion for the applicability of the presented analytical model for calculating the parameters of double-clad fiber lasers has been proposed. The applicability of the proposed model to describe the transient stage of the operation of a fiber laser under continuous pumping has been demonstrated.