Inductively coupled plasma (ICP) etching of InP in Cl2/BCl3 gas mixtures is studied in order to achieve low-damage and high-anisotropy etching of two-dimensional InP/InGaAsP photonic crystal. The etching mechanisms are discussed and the effect of plasma heating on wafer during etching is analyzed. It is shown that the balance between the undercut originating from plasma heating and the redeposition of sputtering on the side-wall is crucial for highly anisotropic etching, and the balance point moves toward lower bias when the ICP power is increased. High aspect-ratio etching at the DC bias of 203 V is obtained. Eventually, photonic crystal structure with nearly 90° side-wall is achieved at low DC bias after optimization of the gas mixture.