We describe a method for feedback-regulation of a microcantilever's response using optical radiation pressure. One laser measures the position of the cantilever and another laser applies a force that is a phase-shifted function of that position. The force is due solely to the momentum of the photons in the laser. The feedback changes the microcantilever's effective quality factor Qeff and effective temperature Teff. Reduction of both Qeff and Teff by more than a factor of 15 is demonstrated. Additionally, we suggest a method for determination of a microcantilever's spring constant using the known force exerted on it by radiation pressure.