  V445 Pup (2000) is a unique object identified as a helium nova. Color indexes
during the outburst are consistent with those of free-free emission. We present
a free-free emission dominated light curve model of V445 Pup on the basis of
the optically thick wind theory. Our light curve fitting shows that (1) the
white dwarf (WD) mass is very massive (M_WD \gtrsim 1.35 M_\sun), and (2) a
half of the accreted matter remains on the WD, both of which suggest that the
increasing WD mass. Therefore, V445 Pup is a strong candidate of Type Ia
supernova progenitor. The estimated distance to V445 Pup is now consistent with
the recent observational suggestions, 3.5 < d < 6.5 kpc. A helium star
companion is consistent with the brightness of m_v=14.5 mag just before the
outburst, if it is a little bit evolved hot (\log T (K) \gtrsim 4.5) star with
the mass of M_He \gtrsim 0.8 M_\sun. We then emphasize importance of
observations in the near future quiescent phase after the thick circumstellar
dust dissipates away, especially its color and magnitude to specify the nature
of the companion star. We have also calculated helium ignition masses for
helium shell flashes against various helium accretion rates and discussed the
recurrence period of helium novae.
