A novel scheme of all-optical 3R regeneration has been proposed in this paper. Using degraded data signal rather than clock as a pump, all-optical 40Gbps 3R regeneration based on a fiber optical parametric amplification effect (FOPA) is realized with improved performance compared with previous regeneration schemes. Theoretical analysis of the noise suppression mechanism under different pump power (corresponding to "0" code or "1" code) is provided. By properly adjusting the parameters of FOPA, amplitude noise on both "0" code and "1" code can be suppressed simultaneously. The clock extraction is based on wavelenth conversion and a Fabry-Pérot (F-P) filter with a high Q value of 1000. The theoretical analysis conclusions are verified through experiments, and the imbalance of the 3R regeneration using fiber optical parametric amplication is eliminated. The root mean square (RMS) jitter of the clock extracted is only 180fs. The signal-to-noise ratio of the regenerated signal is improved from 4.52 to 11.43.