We report on the rare-earth-doped fiber-based generation of nearly transform-limited 10-ps pulses based on self-phase-modulation-induced spectral compression. An ytterbium-doped low nonlinearity photonic crystal fiber is used as a gain medium. An average power of as much as 97 W at a repetition rate of 47 MHz, corresponding to a peak power as high as 200 kW, was obtained. Furthermore, efficient second-harmonic generation by application of this high-power laser source is discussed.