In this work, a high-energy and high peak power chirped pulse amplification system with near diffraction-limited beam quality based on tapered confined-doped fiber (TCF) is experimentally demonstrated. The TCF has a core numerical aperture of 0.07 with core/cladding diameter of 35/250 µm at the thin end and 56/400 μm at the thick end. With a backward-pumping configuration, a maximum single pulse energy of 177.9 μJ at a repetition rate of 504 kHz is realized, corresponding to an average power of 89.7 W. Through partially compensating for the accumulated nonlinear phase during the amplification process via adjusting the high order dispersion of the stretching chirped fiber Bragg grating, the duration of the amplified pulse is compressed to 401 fs with a pulse energy of 126.3 μJ and a peak power of 207 MW, which to the best of our knowledge represents the highest peak power ever reported from a monolithic ultrafast fiber laser. At the highest energy, the polarization extinction ratio and the M2 factor were respectively measured to be ~ 19 dB and 1.20. In addition, the corresponding intensity noise properties as well as the short- and long-term stability were also examined, verifying a stable operation of the system. It is believed that the demonstrated laser source could find important applications in, for example, advanced manufacturing and photomedicine.Graphical