We have demonstrated the wavelength tunable ultrashort pulse fiber ring laser proposed the novel method for measuring the cavity loss from relaxation oscillation frequency and the pump power. To suppress the polarization instability the laser cavity is configured with polarization maintaining fibers and to control the center wavelength a 2.4 nm bandwidth tunable wavelength filter was inserted in the cavity. The laser has 8 picosecond pulse width, 10 GHz repetition rate and 1.2 mW average power in 1530-1560 nm operation range.