A 10 Gb/s all-optical clock extraction based on magnetically controllable fiber optical parametric oscillator (MC-FOPO) is demonstrated. The operation properties of the magnetic control unit, composed of a solenoid and a magneto-optic crystal of high Verdet constant, are experimentally investigated. By adjusting the drive current of the solenoid, the magneto-optic crystal unit may serve as a tunable optical fiber delay line with polarization control to some extent. The experimental results show that the MC-FOPO is capable of repetitively magnetic tunability desirable for all-optical clock recovery.