The all-optical control of light parameters such as intensity profile, power, phase, modes, wavelength, and state of polarization is viewed as a cornerstone for the feasibility of future high-speed fiber-optic communication networks. In particular, the ability to repolarize light with an almost unitary efficiency represents a huge advantage over the standard polarizers that waste 50% of the unpolarized light. In this paper, we show how to obtain a nonlinear lossless repolarization of light in low-birefringence optical fibers. A characterization of the stimulated Raman scattering based polarization pulling process is also presented, with particular focus on the optimization of several parameters such as fiber length, polarization mode dispersion coefficient, correlation length, and signal and auxiliar pump power regimes. Finally, we compare the co-propagating and counter-propagating signal and pump schemes, presenting the main advantages and disadvantages of each scenario and its suitability for particular applications.