Highly coherent frequency-entangled photons at telecom band are critical in quantum information protocols and quantum tele-communication. Photon pairs generated by spontaneous parametric down-conversion in nonlinear crystals or modulation instability in optical fibers exhibit random fluctuations. Here, we demonstrate highly stable frequency-entangled photons based on parametric instability in an active fiber ring cavity, where periodic modulation of dispersion excites parametric resonance, and the characteristic wave number is selected by the periodic modulation of resonator. Background-free autocorrelation of single-shot spectra reveals that spectra of parametric instability sidebands possess high coherence. The quantum properties are tested by the Hanbury Brown-Twiss measurement and Hong-Ou-Mandel interference. We conform the frequency-entanglement of two parametric instability sidebands by a spatial quantum beating with a fringe visibility of 97.9%. Our results prove that the parametric instability in active fiber cavity is effective to generate highly coherent frequency-entangled photon pairs, which would facilitate subsequent quantum applications.