Forest aboveground biomass (AGB) is a prime forest parameter that requires global level estimates to study the global carbon cycle. Light detection and ranging (LiDAR) is the state-of-the-art technology for AGB prediction but it is expensive, and its coverage is restricted to small areas. On the contrary, spaceborne Earth observation data are effective and economical information sources to estimate and monitor AGB at a large scale. In this paper, we present a study on the use of different spaceborne multispectral remote sensing data for the prediction of forest AGB. The objective is to evaluate the effects of temporal, spectral, and spatial capacities of multispectral satellite data for AGB prediction. The study was performed on multispectral data acquired by Sentinel-2, RapidEye, and Dove satellites which are characterized by different spatial resolutions, temporal availability, and number of spectral bands. A systematic process of least absolute shrinkage and selection operator (lasso) variable selection generalized linear modeling, leave-one-out cross-validation, and analysis was accomplished on each satellite dataset for AGB prediction. Results point out that the multitemporal data based AGB models were more effective in prediction than the single-time models. In addition, red-edge and short wave infrared (SWIR) channel dependent variables showed significant improvement in the modeling results and contributed to more than 50% of the selected variables. Results also suggest that high spatial resolution plays a smaller role than spectral and temporal information in the prediction of AGB. The overall analysis emphasizes a good potential of spaceborne multispectral data for developing sophisticated methods for AGB prediction especially with specific spectral channels and temporal information.