Accurate estimation of the optical properties of a semitransparent medium is crucial in various engineering applications. This study introduces the Powell algorithm to estimate the optical properties of a 2D semitransparent slab. The time-domain radiative transfer equation is solved using the discrete ordinate method. The radiative intensity on the medium’s surface serves as the measurement signal for the inverse analysis. The results demonstrate that the Powell algorithm accurately estimates the absorption coefficient, scattering coefficient, and scattering asymmetry factor. For simultaneous reconstruction of these three parameters, it is recommended to use eight signal detectors on both the left and right sides of the medium. Even when the standard measurement error is increased to 15%, the relative errors for these three parameters remain low, at 1.87%, 1.379%, and 0.194%.