The optical properties and physiology of biological tissue, as well as how near-infrared (NIR) light interacts with the tissue, both play a significant role in interpreting the tissue probing optical measurements, and in solving the inverse problem of near-infrared spectroscopy (NIRS)-based medical imaging modalities such as diffuse optical tomography and functional near-infrared spectroscopy. This paper discusses the optical properties of tissue, specifically in the NIR wavelength range, which influence NIRS measurements in NIRS-based medical imaging. There is an easy-to-understand explanation given in this paper of the NIR light-tissue interaction phenomenon. The mathematical explanation, the processes involved in the interaction, and the rationale for a few approximations are described. Various types of chromophores present in the tissue, their composition in the tissue, and how these chromophores overall affect the scattering and absorption of NIR light are presented. The absorption spectra of these chromophores are shown. Finally, the paper concludes with the author’s perspective on two NIRS-based medical imaging modalities, diffuse optical tomography, and functional near-infrared spectroscopy.