The present invention provides a method of lipid content quantification using MRI for brain lesion staging and prognostication, comprising the steps of acquiring a plurality of magnetic resonance (MR) images; performing image segmentation on the acquired MR images by locating and identifying a region boundaries based on morphologic abnormalities observation; computing relative signal loss based on the plurality of acquired MR images by constructing a lipid map; and performing skull-stripping on the lipid map; characterized in that an image registration is performed using the acquired MR images, the segmented lesional masks and the lipid map in order to obtain mean lipid fraction from the lipid map; and wherein the mean lipid fraction serves as indicator in staging and prognostication of brain lesions.