A self-starting optoelectronic oscillator that employs a diverging time lens and a Mach–Zehnder modulator (MZM) in a fiber-extended cavity to generate a multiwavelength ultrashort pulse train is demonstrated. The switching window formed by the MZM is narrowed by the use of a diverging time lens, which is a phase modulator in our study. A wavelength assignment scheme is deployed to simultaneously suppress the pedestals of pulses on different wavelengths. A detailed analysis is given, and the results are presented by experiment. We have generated 25 GHz optical pulses simultaneously on four wavelengths as a proof-of-concept demonstration. The pulse width of the optical pulse, the phase noise, and the timing jitter performance of the generated microwave signal are experimentally measured.