Balanced steady-state free precession (bSSFP) imaging enables high scan efficiency in MRI, but differs from conventional sequences in terms of elevated sensitivity to main field inhomogeneity and nonstandard T 2 /T 1 -weighted tissue contrast. To address these limitations, multiple bSSFP images of the same anatomy are commonly acquired with a set of different RF phase-cycling increments. Joint processing of phasecycled acquisitions serves to mitigate sensitivity to field inhomogeneity. Recently phase-cycled bSSFP acquisitions were also leveraged to estimate relaxation parameters based on explicit signal models. While effective, these model-based methods often involve a large number of acquisitions (N ≈ 10-16), degrading scan efficiency. Here, we propose a new constrained ellipse fitting method (CELF) for parameter estimation with improved efficiency and accuracy in phase-cycled bSSFP MRI. CELF is based on the elliptical signal model framework for complex bSSFP signals; and it introduces geometrical constraints on ellipse properties to improve estimation efficiency, and dictionarybased identification to improve estimation accuracy. CELF generates maps of T 1 , T 2 , off-resonance and on-resonant bSSFP signal by employing a separate B 1 map to mitigate sensitivity to flip angle variations. Our results indicate that CELF can produce accurate off-resonance and bandingfree bSSFP maps with as few as N = 4 acquisitions, while estimation accuracy for relaxation parameters is notably limited by biases from microstructural sensitivity of bSSFP imaging.