Tritium tracers are frequently used in biological assays during the drug discovery process because of their high specific activity and relative ease of synthesis. However, this high specific activity, along with other contributing factors, can lead to an increased rate of radiolytic decomposition. As a result, following long-term storage tritium tracers often require purification. Understanding the elements that cause radiolytic decomposition is extremely important to extend the storage life, and consequently reduce unnecessary inventory purifications. One of these elements is the presence of water in tritium tracers. Upon investigation, it was discovered that aside from the relatively common tritium/water exchange that could occur, residual water could also contribute significantly to the decomposition of tritium tracers. A near-infrared method was developed utilizing a portable device to measure the water content in tritium tracers rapidly and without sample destruction. This method proved to be quick, efficient, and achieved an error less than 5% compared to that of traditional Karl Fischer titration. Method validation was performed and good accuracy, linearity, limit of detection and quantitation were all established.