Gallium nitride (GaN) as a wide-band gap material has been widely used in solid-state lighting. Thanks to its high nonlinearity and high refractive index contrast, GaN-on-insulator (GaNOI) is also a promising platform for nonlinear optical applications. Despite its intriguing optical proprieties, nonlinear applications of GaN have rarely been studied due to the relatively high optical loss of GaN waveguides (2 dB/cm). In this letter, we report GaNOI microresonator with intrinsic quality factor over 2 million, corresponding to an optical loss of 0.26 dB/cm. Parametric oscillation threshold power as low as 8.8 mW is demonstrated, and the experimentally extracted nonlinear index of GaN at telecom wavelengths is estimated to be n2 = 1.2*10 -18 m2W-1, which is comparable with silicon. Single soliton generation in GaN is implemented by an auxiliary laser pumping scheme, so as to mitigate the high thermorefractive effect in GaN. The large intrinsic nonlinear refractive index, together with its broadband transparency window and high refractive index contrast, make GaNOI a most balanced platform for chip-scale nonlinear applications.