A method for determining and correcting distortions in spectral-domain optical coherence tomography images caused by medium dispersion was developed. The method is based on analysis of the phase distribution of the interference signal recorded by an optical coherence tomography device using an iterative approach to find and compensate for the effect of a medium’s chromatic dispersion on point-spread function broadening in optical coherence tomography. This enables compensation of the impact of medium dispersion to an accuracy of a fraction of a radian (units of percent) while avoiding additional measurements and solution of the optimization problem. The robustness of the method was demonstrated experimentally using model and biological objects.