We propose and experimentally demonstrate a novel physical layer encryption scheme for high-speed optical communication. A 10 Gb/s on-off keying signal is secretly transmitted over 100 km standard single-mode fiber. The intensity-modulated message is secured by the encryption mechanism, which is composed of an external noise source and an internal time-delayed feedback loop. The external noise serves as an entropy source with sufficient randomness. The feedback loop structure in the transmitter introduces a time-domain encryption key space, and a corresponding open-loop configuration at the receiver side is used for synchronization and decryption. Experiment results show the effectiveness of the proposed scheme. For a legitimate terminal, bit error rate below 10 8 can be obtained. Decryption degradations with the mismatch of different hardware parameters are researched. The time delay in the feedback loop provides a sensitive encryption key. For other hardware parameters, the system is robust enough for synchronization. Meanwhile, the time-delay signature of the loop is able to be well concealed by the external noise. Moreover, the proposed scheme can support density wavelength division multiplexing transmission with a relatively simple structure. This work also provides a new concept to establish optical secure communication by combining a time-delayed feedback chaotic system and random noise.