The present disclosure provides systems and methods which may assist in evaluating liver fibrosis/inflammation in the presence of elevated iron using magnetic resonance relaxometry. In a non-limiting embodiment, the systems and methods include: obtaining a measurement of relaxometry data of a subjects liver for extracellular fluid, preferably using a magnetic resonance imaging (MRI) device determining an iron content for the liver simulating a measurement of the subjects liver for extracellular fluid for the determined iron content comparing the measurement of the subjects liver for extracellular fluid to the simulated measurement of the subjects liver for extracellular fluid and determining from said comparison a value of extracellular fluid in the subjects liver based on a normal iron content for the liver. The simulation can include multi-compartment modeling of various fractions of extracellular fluid in the liver and the impact of iron content in the liver on both the intra- and extracellular relaxation times.
