We present and analyze four frequency measurements designed to characterize the performance of an optical frequency reference based on spectral hole burning in Eu 3+ :Y2SiO5 . The first frequency comparison, between a single unperturbed spectral hole and a hydrogen maser, demonstrates a fractional frequency drift rate of 5 × 10 −18 s −1 . Optical-frequency comparisons between a pattern of spectral holes, a Fabry-Pérot cavity, and an Al + optical atomic clock show a short-term fractional frequency stability of 1 × 10 −15 τ −1/2 that averages down to 2.5 Frequency-stable laser local oscillators (LLOs) are important tools for a variety of precision measurements. Examples include both scientific applications such as searches for the variation of fundamental constants [1,2] and tests of general relativity [3,4] as well as technical applications such as synthesis of low-phase-noise microwaves [5][6][7] and relativistic geodesy [8,9]. The stability of the best lasers constructed to date [10][11][12] is limited by thermomechanical length fluctuations of the Fabry-Pérot reference cavities used for stabilization (i.e., thermally-driven displacement fluctuations of the atoms that make up the cavity) [13,14]. Present and future applications would benefit from lasers with improved stability [12,15].One alternative to the mechanical frequency reference provided by Fabry-Pérot cavities is spectral-hole burning (SHB) laser-frequency stabilization [16][17][18][19][20]. In this technique, the frequency reference is an atomic transition of rare-earth dopant ions in a cryogenically cooled crystal. These systems typically display an inhomogeneously broadened absorption line with a linewidth of order gigahertz, but the optical coherence time can be as long as milliseconds. Thus, in systems with an appropriate level structure, a spectrally-narrow transparency, or spectral hole, can be written into the broad absorption line by optically pumping a subset of the dopant ions to a longlived auxiliary state. For laser-frequency stabilization, a spectral hole is written into the crystal at the beginning of the experiment, and subsequently the laser frequency is stabilized to the center of the spectral hole by probing the transmission of the crystal and feeding back to the laser frequency. Because the coupling between crystal strain and the internal states of the dopant ions is weak, the thermomechanical noise that limits Fabry-Pérot cavities is only a weak perturbation to the frequencies of spectral holes.The material system Eu 3+ :Y 2 SiO 5 in particular is very promising for high-performance laser-frequency stabilization because it supports spectral holes with a linewidth