A novel all-optical method for ultra-wideband (UWB) monocycle pulses generation based on cross polarization modulation (CPM) effect in highly nonlinear photonic crystal fiber is proposed and demonstrated. Due to the CPM effect between the probe light and the pump pulse, a pair of polarity-reversed Gaussian pulses is produced. After proper differential delay, an UWB monocycle pulse with 84-ps width and the fractional bandwidth of 153% is generated after photodetection.