An all-fiber Q-switched laser includes a gain fiber spliced between narrowband and broadband fiber gratings that define a polarization-dependent resonant cavity. The narrowband grating is, for example, formed in a PM fiber to create a polarization-dependent reflection band. A modulator applies stress to the fiber chain to induce birefringence and switch the cavity Q-factor to alternately store energy in the gain fiber and then release the energy in a laser pulse.