We demonstrate a new scheme for realizing the Optical Bistability (OB) inside an all-fiber ring cavity with an external control field. In the absence of the external control field, the pump power is fixed below the threshold value of laser, and there is no laser in the cavity. However, when the control signal of 1505 nm to 1520 nm is injected into the cavity, laser begins to oscillate and OB appears. We found that the wavelength and power of the control signal can affect the OB behavior dramatically, which can be used to manipulate efficiently the threshold intensity and the hysteresis loop. We also give an explanation of the bistability phenomenon based on numerical simulations, which are agreed very well with our experimental results. Our scheme may provide some new possibilities for technological applications in optical power limiters, switches or memories.