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In this letter, the fiber-optic communication channel with a quadrature amplitude modulation (QAM) input constellation is treated. Using probabilistic shaping, we show that high-order QAM constellations can achieve and slightly exceed the lower bound on the channel capacity, set by ring constellations. We then propose a mapping function for turbo-coded bit-interleaved coded modulation based on optimization of the mutual information between the channel input and output. Using this mapping, spectral efficiency as high as 6.5 bits/s/Hz/polarization is achieved on a simulated single channel long-haul fiber-optical link excluding the pilot overhead, used for synchronization, and taking into account frequency and phase mismatch impairments, as well as laser phase noise and analog-to-digital conversion quantization impairments. The simulations suggest that major improvements can be expected in the achievable rates of optical networks with high-order QAM.