Via saturated absorption spectroscopy and the third-harmonic detection technique, the hyperfine spectra of 127I2 near 532 nm have been observed within the tuning range of a mini Nd︰YVO4-KTP laser. The laser is frequency stabilized against one hyperfine structure (hfs) component of 127I2. The analysis of error signal shows that it is possible to realize a frequency stability of 3.0×10?13 at 1 s average time.