Optical Network-on-Chip (ONoC) is a promising communication medium for large-scale Multiprocessor System on Chip (MPSoC). ONoC outperforms classical electrical NoC in terms of throughput and latency. The medium can support multiple transactions at the same time on different wavelengths by using Wavelength Division Multiplexing (WDM). Moreover multiple wavelengths can be used as high-bandwidth channel to reduce transmission time. However, multiple signals sharing simultaneously a waveguide can lead to inter-channel crosstalk noise. This problem impacts the Signal to Noise Ratio (SNR) of the optical signal, which leads to an increase in the Bit Error Rate (BER) at the receiver side. In this paper we first formulate the crosstalk noise and execution time models and then propose a Wavelength Allocation (WA) method in a ring-based WDM ONoC allowing to search for performance and energy trade-offs, based on the application constraints. As result, most promising WA solutions are highlighted for a defined application mapping onto 16-core WDM ONoC.