The aim of our study was to explore the possibility of detecting hemodynamic changes in the brain using the phase of the intensity modulated optical signal. To obtain optical signals with the highest possible signal-to-noise ratio, we performed a series of simultaneous NIRS-fMRI measurements, with subsequent correlation of the time courses of both measurements. The cognitive paradigm used arithmetic calculations, with optical signals acquired with sensors placed on the forehead. Measurements were done on seven healthy subjects. In five subjects we demonstrated correlation between the hemodynamic signals obtained using NIRS and BOLD fMRI. In four subjects correlation was found for the hemodynamic signal obtained using the phase of the intensity modulated signal.