This paper presents a novel multi-level phase quantizer with the potential of almost ideal step like transfer function. Its operation relies on the proper combination of phase sensitive amplification in highly nonlinear fibers and amplitude limitation offered by injection locked lasers. Thorough investigation of the quantization properties of the scheme is theoretically and numerically conducted under ideal and non-ideal operating conditions. The properties of the limiter and their impact on the quantization performance are highlighted. The regenerative operation is demonstrated numerically by showing that a regenerated differentially decoded quaternary shifted keyed signal exhibits almost identical bit error rate performance with homodyne detection.