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In this paper, we analyze the switching performance of wavelength division multiplexing (WDM) optical packet switch (OPS) employing wavelength conversion (WC) techniques under Markovian modeled self-similar traffic input to realize the benefit of wavelength conversion. The analytical results are calculated and verified by simulation. We propose a procedure to calculate the numerical results in order to reduce the effort of computation. The computation complexity of the analysis is then presented. Our analysis is useful in dimensioning the WDM OPS to obtain satisfactory performance.