In accordance with the invention, the oxygenation of blood-profused tissue is measured by shining light into the profused tissue and analyzing the light reflected within the tissue. The light is reflected by cell walls in the tissue and is partially absorbed by hemoglobin in the blood. Since the extent of absorption is sensitive to the extent of hemoglobin oxygenation, measurement and processing of the reflected light provides a measure of the oxygenation of the blood. In one embodiment, the method is applied to measure the oxygenation of blood within the tympanic membrane (ear drum).