We propose and demonstrate a novel scheme for short pulse controlled all-optical switch using external cavity based single mode Fabry-Perot laser diode (SMFP-LD). The proposed scheme consists of control unit and switching unit as two essential blocks. The basic principle of the proposed scheme is the optical bistability property of SMFP-LD for the control unit and the suppression of the dominant beam of SMFP-LD with injection locking for the switching unit. We also present the analysis of hysteresis width and rising/falling time with change in wavelength detuning which helps to find the optimum wavelength detuning value and power of light beams at different stages of the proposed scheme that gives wide input dynamic power range, high ON/OFF contrast ratio, and low rising/falling time. Input data of 10 Gb/s Non Return to Zero (NRZ) signal is switched at output ports depending upon the control signal generated by the control unit, which comprises of optical SR latch. Output waveforms, clear eye diagrams with extinction ratio of about 11 dB, rising/falling time of about 30 ps and 40 ps, and bit error rate (BER) are measured to validate proposed scheme. No noise floor is observed at output ports up to BER of 10(-12) and the maximum power penalty recorded is about 1.7 dB at a BER of 10(-9) which shows good performance of the proposed short pulse controlled optical switch using SMFP-LDs.