Background: Delayed contrast enhancement on cardiac magnetic resonance imaging is a well-established MRI technique for the evaluation of myocardial tissue viability. A comprehensive cardiac MRI protocol for myocardial viability comprises of multiple breath hold sequences to provide information regarding chamber volumes, myocardial mass, and function in addition to viability. However, its routine use is limited mainly by lengthy acquisition time and patient's inability to hold breath in multiple breath hold sequences. The important question to which the referring cardiologists/cardiac surgeons are seeking answer is that "What are the viable vascular territories that will benefit from revascularization?" In this study, we have analyzed the utility of non-breath-hold rapid delayed contrast-enhanced cardiac MR imaging protocol for myocardial viability assessment with 18-flourodeoxyglucose positron emission tomography (18 F-FDG PET) as the reference standard. Results: Forty patients of ischemic heart disease who met the inclusion criteria were included. All patients underwent both 18 F-FDG PET and delayed contrast-enhanced cardiac magnetic resonance imaging as per the non-breath-hold protocol. In this free-breathing protocol, the breath hold cine sequences were omitted and, after localizers, post-contrast scans were obtained with a time gap of 15 min post-contrast administration. A total number of 680 myocardial segments and corresponding 120 vascular territories were assessed. MRI and 18 F-FDG PET images were analyzed using a 17-segment model as proposed by AHA. Sensitivity, specificity, positive predictive value, and negative predictive value of non-breath-hold rapid delayed contrast-enhanced cardiac MR imaging protocol for assessing myocardial viability (on segment analysis) was 95.5%, 65.59%, 88.0%, and 84.72%, respectively, and of vascular territory analysis were 96.77%, 92.59%, 97.83%, and 89.29%, respectively, in relation to 18 F-FDG PET used as the reference standard. Spearman's rank correlation coefficient is 0.62. Conclusion: This modified non-breath-hold delayed contrast-enhanced cardiac MR imaging protocol is a reliable tool to answer the clinically relevant question of myocardial viability with a significant reduction in acquisition time and overcomes the limiting need of breath hold.