This paper focuses on the application of principal component analysis (PCA) to facilitate the optimization of the derivatization of oestrogenic steroids—estrone, 17β‐estradiol, estriol, 17α‐ethinylestradiol and diethylstilbestrol—in order to achieve (1) the complete derivatization of all the hydroxyl groups contained in the structure of the compounds and (2) the greatest effectiveness of this reaction. Six different derivatization reagents were used in this study, whereas 2‐methyl‐anthracene was applied as the internal standard to evaluate the effectiveness of the reactions. The experimental data were subjected to PCA. With PCA, the dimensionality of the original multivariable data set could be reduced and the selection of optimum conditions for derivatization facilitated. The mixture of 99% N,O‐bis(trimethylsilyl)trifluoroacetamide + 1% trimethylchlorosilane and pyridine (1:1, v/v) at 60 °C for 30 min has been established as the most convenient and efficient means of derivatizing the aforementioned oestrogenic steroids and diethylstilbestrol; the N‐methyl‐N‐(trimethylsilyl)trifluoroacetamide + pyridine (1:1, v/v) mixture seems to be a promising alternative. The application of PCA for optimizing the derivatization procedure, proposed for the first time in this study, is particularly useful in the development of multicomponent methods across several chemical classes of compounds. Copyright © 2011 John Wiley & Sons, Ltd.