Abstract. During the Eagle 2006 campaign intensive in-situ and air/space borne measurements were carried out over the Wolderwijd and Veluwemeer natural waters in the Netherlands. In this paper, we modify the GSM semi-analytical inversion model for these lakes to derive inherent optical properties (IOPs) and their spectral dependencies from air and space borne data. Uncertainties of the derived IOPs are estimated using a nonlinear regression technique. The modified model succeeded in deriving accurate estimates of IOPs with R2 higher than 0.9 and RMSE values equal to 0.12 and 0.05 for absorption and scattering coefficients, respectively. Finally, we show that the uncertainty of derived absorption coefficients is slightly independent of absorption's magnitude. While the uncertainty of all derived IOPs increases with water turbidity.