All optical wavelength conversion based on four-wave mixing (FWM) is experimentally demonstrated in 80-m dispersion-flatted high nonlinear microstructure fibers (MF). The pulsed signal with 10 GHz repetition rate and 1.6 ps pulse width is used as pump wave. In the experiments, both down- and up-conversion are obtained in this type of wavelength converter. Moreover, the relationship between conversion efficiency and the power of CW and pulsed wave is also experimentally analyzed. Both of the wavelength up-conversion and down-conversion is efficient and this efficiency decreases as the input power falls. The power of optical pulse’s impact on the down-conversion is obvious. In summary, we believe the high nonlinear dispersion-flattened microstructural fiber will play an important roll in all optical wavelength conversion.