Chronic liver disease (CLD) is a large and ever-growing problem in both the US and world health care systems. While histologic analysis through liver biopsy is the gold standard for hepatic parenchymal evaluation, this is not feasible in such a large population of patients or as a way of monitoring change over time. This review discusses MRI-based techniques for assessing hepatic fibrosis, hepatic steatosis, and hepatic iron content, with discussions of both current techniques and future advancements.