A system and method for quantifying MR data acquired during a UTE sequence include a computer programmed to execute an MR scan comprising an application of an RF pulse, an echo time (TE) period, and an application of a data acquisition gradient pulse, wherein the TE period begins after the RF pulse and ends before the data acquisition gradient pulse. MR data of an imaging object are acquired during application of the data acquisition gradient pulse, and a phase image is reconstructed based on the acquired MR data. The computer is also programmed to calculate a first contribution of phase to the phase image during the application of the RF pulse, to calculate a second contribution of phase to the phase image by the application of the data acquisition gradient pulse, and to generate a frequency map based on the phase image and based on the first and second contributions of phase.