Oxygen saturation is a relative measure of the concentration of oxygen that is dissolved or carried in a given medium as a proportion of the maximal concentration that can be dissolved in that medium at the given temperature. It can be measured with a dissolved oxygen probe such as an oxygen sensor or an optode in liquid media, usually water. The standard unit of oxygen saturation is percent (%).

An oxygen sensor (or lambda sensor, where lambda refers to air–fuel equivalence ratio, usually denoted by λ) or probe or sond, is an electronic device that measures the proportion of oxygen (O2) in the gas or liquid being analysed.