Microwave photonic frequency conversion and phase-shifting technology are both key technologies of microwave photonic radar. The complexity and volume of the microwave photon radar system can be greatly reduced if the phase shift is completed while the microwave photon frequency conversion is realized. A microwave photonic frequency conversion and phase-shifting method is proposed based on the optoelectronic oscillator loop. The fundamental frequency microwave signal is up-converted by using the photoelectric oscillation loop. The 1.6-21.16 GHz tunable up-conversion signal is regenerated by adjusting the frequency of the optoelectronic oscillator. The tuning range can reach 50.4° by adjusting the output wavelength of the tunable laser and using the delay effect of dispersion compensating fiber to change the phase of up-conversion signal. The two technologies of microwave photon frequency conversion and phase shifting are combined, which not only extend application scope of optoelectronic oscillator, but also give some references to the application of microwave photon radar.