The common and traditional method for dispersion compensation in optical domain is concatenating the transmit optical fiber by a compensating optical fiber having high-negative dispersion coefficient. In this paper, we take an opposite direction and show how an optical fiber with high-positive dispersion coefficient can also be used for dispersion compensation. Our optical dispersion compensating structure is the optical implementation of an iterative algorithm in signal processing. The proposed dispersion compensating system is constructed by cascading a number of compensating sub-systems and its compensation capability is improved by increasing the number of embedded sub-systems. We also show that the compensation capability is a trade-off between transmission length and bandwidth. We use simulation results to validate the performance of the introduced dispersion compensating module. Photonic crystal fibers with high-positive dispersion coefficient can be used for constructing the proposed optical dispersion compensating module.