We propose and demonstrate a novel technique that uses a FabryPerot laser diode （FPLD） to perform simultaneous alloptical individual channel clock extraction and wavelength conversion. The nonlinear dynamical period1 oscillation can occur when a semiconductor laser is optically injected. By utilizing the crossgain modulation effect and the period1 oscillation harmonic frequencylocked in an optically injected semiconductor laser, we can extract the wavelength conversional individual channel optical clock from the opticaltimedivisionmultiplexing （OTDM） signal. In a FPLD, we numerically simulate the extraction of 20 GHz optical clock at 1550 nm from the 2×20 Gb/s OTDM signal at 1555 nm, and experimentally obtain the -105 dBc/Hz phase noise frequency division clock of 1236 GHz to 618 GHz with simultaneous wavelength conversion from 155024 nm to 154591 nm. Moreover, we investigate the influence of the injection optical power level, wavelength detuning, the FPLD's bias current level and the longitudinal mode selection on the optical clock extraction. This method is potential to technologically apply in the alloptical demultiplexing and wavelength routing in the OTDM mixed wavelengthdivisionmultiplexing （WDM） communication system.