Water-fat separated magnetic resonance (MR) images with balanced steady-state free precession (SSFP) are produced. The acquired SSFP signals are isolated into multiple echo components in which the phase arrangements between the water and fat signals are controlled by appropriately selecting the TR and TE values of the SSFP imaging sequence. From the isolated echo components, the effects of the field inhomogeneities are corrected and water and fat images are separated.