3D density-weighted MRSI was used to regionally measure the ¹²⁹Xe chemical shift from xenon in the lung airspaces (G), lung tissue/plasma (TP) and pulmonary red blood cells (RBC) at three lung inflation states. The ¹²⁹Xe-RBC and ¹²⁹Xe-G chemical shifts were both found to increase with increasing lung inflation (increase in alveolar pO2) while the ¹²⁹Xe-TP shift was observed to be lung-inflation independent. The RBC chemical shift maps presented here may be used in patient populations to detect areas of low blood oxygenation in diseases presenting regional hypoxia in the lungs and other well-perfused organs such as the brain and kidneys.