Round-trip nonlinear phase-shift of an input signal due to optically induced thermal effects and saturable index change in a low intensity resonant reflective vertical cavity semiconductor (quantum wells) saturable absorber (VCSSA) is investigated theoretically for 2R (reamplification and re-shaping) regeneration. Calculations are carried out for a high contrast switching system to find the optimum value of parameters such as energy time filling factor (FF) of the input pump signal, top mirror reflectivity (R t ) of the Fabry-Pérot cavity and wavelength detuning from the low intensity resonant wavelength of the Fabry-Pérot cavity. It is observed that the optimum contrasts are almost the same for a wavelength tuning range as large as 8 nm around the low intensity resonance wavelength of the InGaAs/InP quantum-wells-based VCSSA with R t of 0.72 and FF of 0.10. The simulation shows that the required average input power is minimal for high contrast 2R regeneration when operated in the short wavelength side.