This study attempts to analyze the relationship between forest volume and age based on 5th NFI data and spectral characteristics of satellite imagery using ASTER sensor in Korea. Forest stand volume and age had the negative correlation with the spectral reflectance in all of the band (Blue, Green, Red, SWIR). With increasing of stand volume and age, spectral reflectance decrease. The spectral reflectance of band1 showed the highest correlation between stand volume and spectral reflectance among the VNIR wavelength. The spectral reflectance band 1, 2 (visible wavelength) and stand age have high correlation compared to other bands. The correlation coefficients between forest volume and vegetation indices have low relationship. This result indicates that the reflectance of blue band may be important factor to improve the potential of optical remote sensing data to estimate forest volume and age.