We present an investigation of the thermoelectric properties of cubic perovskite SrTiO3. The results are derived from a combination of calculated transport functions obtained from Boltzmann transport theory in the constant scattering time approximation based on the electronic structure and existing experimental data for La-doped SrTiO3. The figure of merit ZT is modeled with respect to carrier concentration and temperature. The model predicts a relatively high ZT at optimized doping and suggests that the ZT value can reach 0.7 at T = 1400 K. Thus ZT can be improved from the current experimental values by carrier concentration optimization.