Continuous-wave mode-locked femtosecond 2 um solid-state laser with a c-cut Tm:CaYAlO4 as gain medium was experimentally demonstrated. The mode locked laser generated stable pulses with average output power as high as 531 mW, pulse duration of 496 fs, and repetition rate of 97 MHz at 1975 nm. The research results show that Tm:CaYAlO4 is an excellent gain medium for femtosecond pulse generation at 2um wavelength.