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This paper presents a highly negative dispersion-compensating photonic crystal fiber (DC-PCF) with multiple zero dispersion wavelengths (ZDWs) within the telecommunication bands. The multiple ZDWs of the PCF may lead to high spectral densities than those of other PCFs with few ZDWs. The full-vectorial finite element method with a perfectly matched layer (PML) is used to investigate the optical properties of the PCFs. The numerical analysis shows that the proposed PCF, i.e., PCF (b), exhibits multiple ZDWS and also achieves a high negative chromatic dispersion of −15089.0 ps/nm·km at 1.55  μ m wavelength, with the multiple ZDWs occurring within the range from 0.8 to 2.0  μ m range. Other optical properties such as the confinement loss of 0.059 dB/km, the birefringence of 4.11 × 10 − 1 , the nonlinearity of 18.92  W − 1 k m − 1 , and a normalized frequency of 2.633 was also achieved at 1.55  μ m wavelength. These characteristics make the PCF suitable for high-speed, long-distance optical communication systems, optical sensing, soliton pulse transmission, and polarization-maintaining applications.