All-optical wavelength conversion plays a major role in providing the wavelength flexibility in optical communication networks. All-optical wavelength converters (AOWCs) based on cross-gain modulation (XGM) and cross-phase modulation (XPM) in semiconductor optical amplifiers (SOAs) have attracted considerable research interest. In this paper, we propose a novel scheme for cascaded wavelength conversion based on cross-gain modulation and cross-phase modulation in SOAs. The wavelength conversion operation in the proposed scheme includes two stages, that is, XGM in the first stage followed by the stage of XPM, and thus is expected to have a high ER and a large input power dynamic range simultaneously.