A pair of optical pulses traveling through two dispersive media will become broadened and, as a result, the degree of coincidence between the optical pulses will be reduced. For a pair of entangled photons, however, nonlocal dispersion cancellation in which the dispersion experienced by one photon cancels the dispersion experienced by the other photon is possible. In this paper, we report an experimental demonstration of nonlocal dispersion cancellation using entangled photons. The degree of two-photon coincidence is shown to increase beyond the limit attainable without entanglement. Our results have important applications in fiber-based quantum communication and quantum metrology.