Presented in this work is our effort to develop a simple, inexpensive high resolution fiber-optic Optical Coherence Tomography. The approach is based on common-path Fourier Domain OCT (CP-FDOCT), which can lead to applications for both microsurgical tool control and high-resolution endoscopic imaging. The system utilizes a combination of standard fiber optic components and novel signal processing techniques in order to achieve high axial resolution and to simplify the system. High axial resolution is achieved by implementing the Enhanced Lee filter to reduce speckle noise in the OCT image and Richardson-Lucy deconvolution algorithm afterwards to suppress sidelobes induced by the system's point spread function. This also improves the lateral resolution. Utilizing the simple CP-FDOCT and this algorithm, using an onion as a sample, we have obtained images that have improved resolution and signal to noise ratio by 6dB.© (2010) COPYRIGHT SPIE--The International Society for Optical Engineering. Downloading of the abstract is permitted for personal use only.