Hyperpolarized samples (i.e., samples having fractional spin polarization P of at least 0.1) of a target molecular species are created through spin transfer from hyperpolarized xenon atoms or other source isotopes. Reversible nanoscale solid state contact is achieved between the hyperpolarized xenon atoms and molecules of a target species. The resulting solid state mixture is exposed to conditions of magnetic field and temperature designed to allow or even facilitate transfer of spin polarization from the xenon to the target molecules. The xenon and the target species are then separated under conditions that substantially preserve the polarization of the target species. The hyperpolarized target species can then be introduced into a subject of a nuclear magnetic resonance (NMR) experiment.