The invention provides a method, an image analysis software product, and a system for medical imaging analysis for estimating contrast agent extravasation in contrast agent based perfusion imaging such as MRI dynamic contrast enhanced (DCE) imaging, and in particular correction, compensation, or visualization of extravascular leakage of contrast agent in tumors. According to the invention, the effect of extravasation is directly manifested in the tail part of an observed, apparent residue function, R′(t), obtained directly by de-convoluting the expression C(t)=R′(t)Cp′(t) with the arterial input function (AIF). A leakage rate or extravasation constant is determined directly from the tail part of the determined apparent residue function. The invention also relates to distinguishing between T1-dominant and T2*-dominant extravasation effects in perfusion imaging to from the sign of the tail part of the determined apparent residue function and to an automated method for DSC-MRI involving correction for contrast agent extravasation and partial volume effects.