A stable and uniform multi-wavelength fiber laser based on the hybrid gain of a dispersion compensating fiber as the Raman gain medium and an erbium-doped fiber (EDF) is introduced. The gain competition effects in the fiber Raman amplification (FRA) and EDF amplification are analyzed and compared experimentally. The FRA gain mechanism can suppress the gain competition effectively and make the present multi-wavelength laser stable at room temperature. The hybrid gain medium can also increase the lasing bandwidth compared with a pure EDF laser, and improve the power conversion efficiency compared with a pure fiber Raman laser.