A novel scheme of multi-wavelength (4×40 Gb/s) all-optical 3R regeneration is presented by using a fiber optical parametric amplifier (FOPA) with degraded data signals as the pump, which is different in mechanism from previous regeneration schemes. It is demonstrated that, this scheme restrains the noise on both "1" bit and "0" bit very well. The clock extraction is based on wavelength conversion and a Fabry-Perot (F-P) filter with a high Q value of 1000. And the jitter of the recovered clock is only 180 fs. In the multi-wavelength decision unit, the orthogonal polarization as well as bidirectional injection is employed to avoid crosstalk among the four degraded signals. Finally, this scheme realizes that, the signal to noise ratios of the four regenerated signals are improved by 2.21, 2.79, 2.72, 1.99 respectively.