Abstract. The Geostationary Ocean Color Imager (GOCI) Yonsei aerosol retrieval (YAER) version 1 algorithm was developed to retrieve hourly aerosol optical depth at 550 nm (AOD) and other subsidiary aerosol optical properties over East Asia. The GOCI YAER AOD had accuracy comparable to ground-based and other satellite-based observations but still had errors because of uncertainties in surface reflectance and simple cloud masking. In addition, near-real-time (NRT) processing was not possible because a monthly database for each year encompassing the day of retrieval was required for the determination of surface reflectance. This study describes the improved GOCI YAER algorithm version 2 (V2) for NRT processing with improved accuracy based on updates to the cloud-masking and surface-reflectance calculations using a multi-year Rayleighcorrected reflectance and wind speed database, and inversion channels for surface conditions. The improved GOCI AOD τ G is closer to that of the Moderate Resolution Imaging Spectroradiometer (MODIS) and Visible Infrared Imaging Radiometer Suite (VIIRS) AOD than was the case for AOD from the YAER V1 algorithm. The V2 τ G has a lower median bias and higher ratio within the MODIS expected error range (0.60 for land and 0.71 for ocean) compared with V1 (0.49 for land and 0.62 for ocean) in a validation test against Aerosol Robotic Network (AERONET) AOD τ A from 2011 to 2016. A validation using the Sun-Sky Radiometer Observation Network (SONET) over China shows similar results. The bias of error (τ G − τ A ) is within −0.1 and 0.1, and it is a function of AERONET AOD and Ångström exponent (AE), scattering angle, normalized difference vegetation index (NDVI), cloud fraction and homogeneity of retrieved AOD, and observation time, month, and year. In addition, the diagnostic and prognostic expected error (PEE) of τ G are estimated. The estimated PEE of GOCI V2 AOD is well correlated with the actual error over East Asia, and the GOCI V2 AOD over South Korea has a higher ratio within PEE than that over China and Japan.