An OVNA system employing an array of reference delays to estimate distance-variant phase distortion in probe light during an optical-frequency sweep thereof. The estimated distance-variant phase distortion is then used to perform a phase correction for the digital electrical signals generated in response to the probe light being passed through a device under test (DUT) during the same optical-frequency sweep. Advantageously, the performed phase correction enables the OVNA system to provide a more-accurate determination of certain optical characteristics of the DUT than that achievable without such phase correction.