In this paper the results of a theoretical and experimental investigation of synchronized passive Q-switching of two Nd:YVO4-based solid-state lasers operating at two different wavelengths, is described. A V:YAG saturable absorbing material was used as a passive Q-switch performing the synchronization of the two laser fields. This material provides Q-switching operation at both 1064 and 1342 nm wavelengths simultaneously, saturating the same energy level. By adjusting the pump power of both lasers, it was possible to optimize the overlap of the two pulse trains and to switch between different states of synchronization. A theoretical model based on rate equations, which has been developed in order to investigate optical performance of the laser system, is in a good agreement with the experimental results. The principle of synchronized Q-switching can lead to new, pulsed all-solid-state light sources at new wavelengths based on sum-frequency mixing processes.