In the present paper, two types of strained InGaAs/AlGaAs multi-quantum wells grown by MOCVD were designed, in which the thicknesses of quantum wells were 3 nm and 6 mn, respectively. The PL peak wavelengths were measured to be 842 nm and 942 nm, respectively. The shift of energy band in the InGaAs/AlGaAs MQWs due to the quantum size effect, and the strain effect in the active layers was calculated with the theory of the finite quantum well, and the shift of the PL peak wavelengths was also interpreted.