In the present paper, the highly efficient Raman amplification properties of a realistic and idealized dispersion compensating photonic crystal fiber (DCPCF) are described numerically. We have used an accurate full-vectorial finite element modal solver with hybrid curvilinear edge/nodal elements and anisotropic perfectly matched layers for an accurate modal characterization of the realistic as well as idealized DCPCF. A good agreement is observed between numerically evaluated and experimentally [P.J. Roberts, B.J. Mangan, H. Sabert, F. Couny, et al., J. Opt. Fiber Commun. Rep. 2 (2005) 435-461] measured dispersion values. A high peak Raman gain efficiency of 10.5 W-¹?km-¹ is obtained at 13.1 THz frequency shift for a 1455 nm depolarized pump. A DCPCF module of 1-km length can compensate for the dispersion accumulated over 70-km of conventional single mode fiber link with a residual dispersion of +/-50 ps/nm and can provide an average gain of 7.6 dB with +/-0.9 dB gain ripples over C-band.