In this paper, we report a new model for passively Q-switched intracavity optical parametric oscillators (IC-OPOs), using Cr:YAG as a Q-switch crystal. The model considers the effects of thermalization in the Nd:YAG laser crystal, excited state absorption in the Cr:YAG saturable absorber, nonlinear loss due to pump depletion in the nonlinear crystal, the thermal lens effect and the mode overlap of the fields within the nonlinear crystal. The calculated pulse width for the 1,064 nm pump light was 6.2 ns compared to the experimental result of 6 ns, while the signal wave was calculated to have a pulse width of 1.75 ns compared to the experimental result of 2 ns. The model is shown to accurately calculate both the temporal and output power characteristics of the IC-OPO, which has not been previously reported to the best of our knowledge.