Reliable quantification of carbon dioxide (CO 2 ) properties and saturation is crucial in the monitoring of CO 2 underground storage projects. We have focused on quantitative seismic characterization of CO 2 at the Sleipner storage pilot site. We evaluate a methodology combining high-resolution seismic waveform tomography, with uncertainty quantification and rock physics inversion. We use full-waveform inversion (FWI) to provide highresolution estimates of P-wave velocity V P and perform an evaluation of the reliability of the derived model based on posterior covariance matrix analysis. To get realistic estimates of CO 2 saturation, we implement advanced rock physics models taking into account effective fluid phase theory and patchy saturation. We determine through sensitivity tests that the estimation of CO 2 saturation is possible even when using only the P-wave velocity as input. After a characterization of rock frame properties based on log data prior to the CO 2 injection at Sleipner, we apply our two-step methodology. The FWI result provides clear indications of the injected CO 2 plume being observed as low-velocity zones corresponding to thin CO 2 filled layers. Several tests, varying the rock physics model and CO 2 properties, are then performed to estimate CO 2 saturation. The results suggest saturations reaching 30%-35% in the thin sand layers and up to 75% when patchy mixing is considered. We have carried out a joint estimation of saturation with distribution type and, even if the inversion is not wellconstrained due to limited input data, we conclude that the CO 2 has an intermediate pattern between uniform and patchy mixing, which leads to saturation levels of approximately 25% AE 15%. It is worth noting that the 2D section used in this work is located 533 m east of the injection point. We also conclude that the joint estimation of CO 2 properties with saturation is not crucial and consequently that knowing the pressure and temperature state of the reservoir does not prevent reliable estimation of CO 2 saturation.