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To develop the models for chlorophyll (CHL) estimation, the nature of a peak near 700 nm on the reflectance spectrum of water should be investigated. Simultaneous measurements of the reflectance spectra from 400 to 750 nm and relevant water quality constituent concentrations were carried out. A shift of the peak position and an increase of the peak magnitude, when chlorophyll concentration increased, were observed. The relationships of the magnitude and position of the peak to chlorophyll-a, were applied to several independent data sets. The parameters of the peak can be used as precise indicators of CHL content in inland waters.