We report on a femtosecond thulium laser operating on the 3H4 → 3H5 transition with upconversion pumping around 1 µm and passively mode-locked by a GaSb-based SEmiconductor Saturable Absorber Mirror (SESAM). This laser employs a 6 at.% Tm:LiYF4 laser crystal and a polarization maintaining Yb-fiber master oscillator power amplifier at 1043 nm as a pump source addressing the 3F4 → 3F2,3 excited-state absorption transition of Tm3+ ions. In the continuous-wave regime, the Tm-laser generates 616 mW at ∼2313 nm with a slope efficiency of 10.0% (vs. the incident pump power) and a linear polarization (π). By implementing a type-I SESAM with a single ternary strained In0.33Ga0.67Sb quantum well embedded in GaSb for sustaining and stabilizing the soliton pulse shaping, the self-starting mode-locked Tm-laser generated pulses as short as 870 fs at a central wavelength of 2309.4 nm corresponding to an average output power of 208 mW at a pulse repetition rate of 105.08 MHz and excellent mode-locking stability. The output power was scaled to 450 mW at the expense of a longer pulse duration of 1.93 ps. The nonlinear parameters of the SESAM are also reported.