Inherent optical properties (IOPs) and characteristics of suspended particles in surface seawater samples were measured in summer months of 2021 and 2022 in Arctic fjords and coastal waters of western Spitsbergen in the Svalbard archipelago. The measured IOPs included the spectral backscattering and scattering coefficients of suspended particulate matter, as well as the spectral absorption coefficients of suspended particulate matter and its non-algal particulate and phytoplankton components. The particulate assemblages were characterized by measuring the mass concentrations of suspended particulate matter (SPM), particulate organic matter (POM), particulate inorganic matter (PIM), and phytoplankton pigments including chlorophyll-a (Chla). The investigated coastal waters exhibit high variability of particulate characteristics and associated IOPs. We observed more than two orders of magnitude variation in SPM and particulate IOPs, and Chla varied from below the detection limit to more than 3 mg m−3. The contribution of organic fraction to SPM (POM/SPM ratio) varied from 0.05 to 0.6, and the Chla/SPM ratio spanned more than three orders of magnitude with a maximum value of the order of 10−3. As a result, the mass-specific optical coefficients, especially the mass-specific backscattering and scattering coefficients of particles and mass-specific absorption coefficient of non-algal particulate matter, exhibit large variations. In addition, our study demonstrates the influences of changes in composition of suspended particulate matter parameterized in terms of POM/SPM and Chla/SPM ratios on IOPs. Various variants of spectral parametrizations of optical coefficients in terms of univariate or multivariable relationships with particulate characteristics are provided. These parameterizations are representative of the investigated coastal Arctic waters in Svalbard region and can be used for better interpretation of optical measurements, both in-situ and remote, in this Arctic environment.