The spectral absorption cross-section of microalgae is an essential parameter in modeling the microalgae metabolism and growth kinetics as well as in estimating the productivity and efficiency of photobioreactors. This paper presents a simple experimental procedure for retrieving the average spectral absorption cross-section of concentrated microalgal suspensions. The method combines experimental measurements of the normal–hemispherical transmittance and reflectance of the suspensions in conventional cuvettes with an inverse method and analytical expressions obtained from the modified two-flux approximation accounting for absorption and multiple scattering. The method was validated with direct measurements of the scattering phase function and of the absorption and scattering cross-sections of freshwater microalgae Chlorella vulgaris. It was able to retrieve the absorption cross-section with acceptable accuracy. The latter was then used to estimate successfully the fluence rate using a simplified light transfer model, the local rate of photon absorption, and the biomass productivity in flat plate PBRs.