A novel all-fiber laser based on a highly GeO2-doped dispersion-shifted Tm-codoped fiber, pumped at 1.56 µm wavelength and lasing at 1.862 µm wavelength with a slope efficiency up to 37% was demonstrated. The single-mode Tm-doped fiber with the 55GeO2-45SiO2 core was fabricated for the first time by MCVD technique. The laser produces spectral side bands, resulting from the four-wave mixing owing to the shift of the zero-dispersion-wavelength of the fiber to the laser wavelength, thus, making it potentially particularly attractive for dispersion management and ultrashort pulse generation.