The present invention relates to imaging and characterizing atherosclerotic lesions. The invention utilizes a low-flip-angle gradient echo-based MRI acquisition technique combined with specialized magnetization preparative schemes (i.e. non-selective inversion and FSD), and multiple co-registered 3D image sets with different contrast weightings are collected in an interleaved fashion. Using the inventive method, a single scan allows for comprehensive assessment of atherosclerotic plaque within just a few minutes.