We propose and demonstrate a passively mode-locked fiber laser operating at 1951.8 nm using a commercial thulium-doped fiber (TDF) laser, a homemade double-clad thulium–ytterbium co-doped fiber (TYDF) as the gain media, and a multi-walled carbon nanotube (MWCNT) based saturable absorber (SA). We prepare the MWCNT composite by mixing a homogeneous solution of MWCNTs with a diluted polyvinyl alcohol (PVA) polymer solution and then drying it at room temperature to form a film. The film is placed be