We report on polarization independent wavelength conversion, ultrafast depolariza tion, and wavelength conversion of multi-channel signals by use of incoherent four-wave mixing in highly nonlinear optical fiber.Polarization independent wavelength conversion is realized with a non-polarized pump from a spectrum-sliced amplified spontaneous emis sion (ASE) light source.The signal is coherent and polarized from a tunable diode laser.