Theoretical expressions for thermal and electrical feedback effects are derived. These limit the power capability of a power FET and lead a device to catastrophic breakdown (source-drain burnout) when the loop gain of the former reaches unity. Field emission of thermally excited electrons at the Schottky gate plays the key role in thermal feedback, while holes being impact ionized by the drain current play a similar role in the electrical feedback. Thermal feedback is dominant in a high temperature and low drain voltage area. Electrical feedback is dominant in a high drain voltage and low temperature area. In the first area, a high junction temperature is the main factor causing the thermal runaway of the device. In the second area, the electrcal feedback increases the drain current and the temperature and gives a trigger to the thermal feedback so that it reaches unity more easily. Both effects become significant in proportion to transconductance and gate bias resistance, and cause simultaneous runaway of the gate and drain currents. The expressions of the loop gains clearly indicate the safe operating conditions for a power FET. C-band 4 W (1 chip) and 16 W (4 chip) GaAs MESFETs were used as the experimental samples. With these devices the simultaneous runaway of the gate and the drain currents, apparent dependence of the three teminal breakdown voltage on the gate bias resistance in the region dominated by electrical feedback, the rapid increase of the field emitted current at the critical temperature and clear coincidence between the measured and calculated three terminal gate currents both in the thermal feedback dominant region, etc. are demonstrated. The theory explains the experimental results well.