Accurately quantifying optical absorption coefficient using acoustic spectra of photoacoustic signals. Optical absorption is closely associated with many physiological parameters, such as the concentration and oxygen saturation of hemoglobin, and it can be used to quantify the concentrations of non-fluorescent molecules. A sample is illuminated by, for example, a pulsed laser and following the absorption of optical energy, a photoacoustic pressure is generated via thermo-elastic expansion. The acoustic waves then propagate and are detected by a transducer. The optical absorption coefficient of the sample is quantified from spectra of the measured photoacoustic signals. Factors, such as system bandwidth and acoustic attenuation, may affect the quantification but are canceled by dividing the acoustic spectra measured at multiple optical wavelengths.