Aluminum Gallium Arsenide (AlGaAs) is an attractive platform for the development of integrated optical circuits for all-optical signal processing thanks to its large nonlinear coefficients in the 1.55-μm telecommunication spectral region. In this paper we discuss the results of the nonlinear continuous-wave optical characterization of AlGaAs waveguides at a wavelength of 1.55 μm. We also report the highest value ever reported in the literature for the real part of the nonlinear coefficient in this material (Re(γ) ≈521 W(-1)m(-1)).