A system and method are provided for imaging multiple substances, such as contrast agents and metabolites in vivo, with selective excitation frequencies. A first substance is excited with a frequency selective pulse, then a second substance is excited with another frequency selective pulse. The signals resulting from these pulses are acquired in an order reversed from the order in which the pulses were applied. In some embodiments, more than two substances may be imaged. The system and method thus provide for quick and efficient utilization of the magnetization of multiple substances for spectral-spatial imaging.