Long-term in-vivo electrochemistry (LIVE) enables real-time monitoring and measurement of brain metabolites. In this study we have simultaneously obtained blood oxygenation level dependent (BOLD) fMRI and amperometric tissue O 2 data from rat cerebral cortex, during both increases and decreases in inspired O 2 content. BOLD and tissue O 2 measurements demonstrated close correlation (r = 0.7898) during complete (0%) O 2 removal, with marked negative responses occurring ca. 30 s after the onset of O 2 removal. Conversely, when the inspired O 2 was increased (50, 70 and 100% O 2 for 1 min) similar positive rapid changes (ca. 15 s) in both the BOLD and tissue O 2 signals were observed. These findings demonstrate, for the first time, the practical feasibility of obtaining real-time metabolite information during fMRI acquisition, and that tissue O 2 concentration monitored using an O 2 sensor can serve as an index of changes in the magnitude of the BOLD response. As LIVE O 2 sensors can be used in awake animals performing specific behavioural tasks the technique provides a viable animal surrogate of human fMRI experimentation.