To evaluate the feasibility of quantifying hepatic perfusion and function by using dynamic contrast material-enhanced (DCE) magnetic resonance (MR) imaging with the hepatobiliary contrast agent gadoxetic acid and a dual-inlet two-compartment uptake model. The study was approved by the local institutional review board, and written informed consent was obtained from all patients. Data were acquired between October 2008 and November 2009 in 24 patients with hepatic metastases from neuroendocrine tumors (13 men, 11 women; mean age, 59.8 years). DCE MR imaging was performed at 3.0 T with a standard dose of gadoxetic acid and a three-dimensional sequence, with 48 sections of data acquired every 2.2 seconds for 5 minutes. For each patient, a plasma flow map was calculated by means of deconvolution and the model was fitted to six region-of-interest curves. Results were evaluated with goodness-of-fit analysis and, in normal-appearing liver tissue, by comparing perfusion parameters with those reported in the literature. Interobserver effects in the selection of arterial and venous input functions were assessed. With an arterial delay parameter, the model provided a good fit to all data. Values for arterial and venous plasma flow and extracellular volume in normal-appearing liver tissue were comparable to those in the literature. The mean intracellular uptake rate is 3.4/100/min with a standard deviation of 1.9/100/min The model also provided a good fit in all tumor data, producing high arterial flow fraction (87%) and lower uptake (1.7/100/min) . Bias due to observer-dependent differences in the selection of the input functions was negligible. The analysis of dynamic gadoxetic acid-enhanced MR images with the dual-inlet two-compartment uptake model presents a new and practical approach for measuring arterial and venous perfusion and hepatic function in a single acquisition.