Inland waters consist of multiple concentrations of constituents, and solving the interference problem of chlorophyll-a and colored dissolved organic matter (CDOM) can help to accurately invert total suspended matter concentration (Ctsm). In this study, according to the characteristics of the Multispectral Imager for Inshore (MII) equipped with the first Sustainable Development Goals Science Satellite (SDGSAT-1), an iterative inversion model was established based on the iterative analysis of multiple linear regression to estimate Ctsm. The Hydrolight radiative transfer model was used to simulate the radiative transfer process of Lake Taihu, and it analyzed the effect of three component concentrations on remote sensing reflectance.