To compare the performance of three-dimensional radial ultrashort echo time (UTE) oxygen-enhanced (OE) MRI with that of hyperpolarized helium 3 (3 He) MRI with respect to quantitative ventilation measurements in patients with cystic fibrosis (CF). Materials and Methods: In this prospective study conducted from June 2013 to May 2015, 25 participants with CF aged 10-55 years (14 male; age range, 13-55 years; 11 female; age range, 10-37 years) successfully underwent pulmonary function tests, hyperpolarized 3 He MRI, and OE MRI. OE MRI used two sequential 3.5-minute normoxic and hyperoxic steady-state free-breathing UTE acquisitions. Seven participants underwent imaging at two separate examinations 1-2 weeks apart to assess repeatability. Regional ventilation was quantified as ventilation defect percentage (VDP) individually from OE MRI and hyperpolarized 3 He MRI by using the same automated quantification tool. Bland-Altman analysis, intraclass correlation coefficient (ICC), Spearman correlation coefficient, and Wilcoxon signed-rank test were used to evaluate repeatability. Results: In all 24 participants, the global VDP measurements from either OE MRI (r = 20.66, P , .001) or hyperpolarized 3 He MRI (r = 20.75, P , .001) were significantly correlated with the percentage predicted forced expiratory volume in 1 second. VDP reported at OE MRI was 5.0% smaller than (P = .014) but highly correlated with (r = 0.78, P , .001) VDP reported at hyperpolarized 3 He MRI. Both OE MRI-based VDP and hyperpolarized 3 He MRI-based VDP demonstrated good repeatability (ICC = 0.91 and 0.95, respectively; P .001). Conclusion: In lungs with cystic fibrosis, ultrashort echo time oxygen-enhanced MRI showed similar performance compared with hyperpolarized 3 He MRI for quantitative measures of ventilation defects and their repeatability.