In most coastal waters, riverine inputs of suspended particulate matter (SPM) and colored dissolved organic matter (CDOM) are the primary optically active constituents. Moderate- and high-resolution satellite optical sensors, such as the Operational Land Imager (OLI) on Landsat-8 and the MultiSpectral Instrument (MSI) on Sentinel-2, offer a synoptic view at high spatial resolution (10–30 m) with weekly revisits allowing the study of coastal dynamics (e.g., river plumes and sediment re-suspension events). Accurate estimations of CDOM and SPM from space require regionally tuned bio-optical algorithms. Using an in situ dataset of CDOM, SPM, and optical properties (both apparent and inherent) from various field campaigns carried out in the coastal waters of the estuary and Gulf of St. Lawrence (EGSL) and eastern James Bay (JB) (N = 347), we developed regional algorithms for OLI and MSI sensors. We found that CDOM absorption at 440 nm [ag (440)] can be retrieved using the red-to-green band ratio for both EGSL and JB. In contrast, the SPM algorithm required regional adjustments due to significant differences in mass-specific inherent optical properties. Finally, the application of regional algorithms to satellite images from OLI and MSI indicated that the atmospheric correction (AC) algorithm C2RCC gives the most accurate remote-sensing reflectance (Rrs) absolute values. However, the ACOLITE algorithm gives the best results for CDOM estimation (almost null bias; median symmetric accuracy of 45% and R2 of 0.78) as it preserved the Rrs spectral shape, while tending to yield positively bias SPM (88%). We conclude that the choice of the algorithm depends on the parameter of interest.