An　irreversible　model　of　the　thermophotonic　cell　(TPC)　with　a　heated　forward-based　light-emitting　diode　(LED)　as　an　emitter　and　a　photovoltaic　cell　(PVC)　is　established.　The　performances　of　the　TPC　are　optimized　and　compared　with　those　of　the　thermophotovoltaic　cell　(TPVC)　based　on　finite-time　thermodynamics.　The　results　obtained　show　that　there　exist　the　optimally　operating　ranges　of　the　voltages　and　band-gap　energies　of　the　LED　and　PVC.　The　thermal　flow　emitted　from　the　heated　LED　dramatically　exceeds　that　from　the　pure　thermal　emitter.　The　maximum　efficiency　of　the　TPC　is　less　than　that　of　the　TPVC,　whereas　the　maximum　power　density　of　the　TPC　surpasses　that　of　the　TPVC　under　an　arbitrary　emitter　temperature.　The　TPC　has　the　advantages　of　the　relatively　high　optimal　band-gap　energies　and　relatively　low-operating　temperatures　so　that　it　is　easier　to　be　made　than　the　TPVC.