Nonlinear effects and chromatic dispersion are the main causes of pulse degradation in high bit-rate WDM transmission systems and several architectures have been proposed to compensate them by means of optical phase conjugation. In this paper, a new method to exploit an optical phase conjugator (OPC) for nonlinearity and dispersion cancellation is disclosed. The proposed method is using optimal total dispersion of each fiber sections and it is simpler than those previously described in literature. Power penalty between WDM channels and the maximum launch power in $28{ imes}40$ Gbps WDM transmission system designed by optimal total dispersion are more decreased and more increased than those in the conventional WDM transmission system with OPC, respectively. Furthermore, optimal total dispersion proposed in this research should provide the flexible design of WDM system, which less depends on OPC position.