An exemplary system, method and computer-accessible medium for characterizing a microstructure of a prostate of a patient can be provided, which can include, for example, generating a magnetic resonance (MR) radiofrequency (RF) pulse(s) by varying (i) a diffusion time, (ii) a diffusion gradient direction, (iii) a diffusion gradient pulse width, or (iv) a diffusion gradient pulse shape, applying the MR RF pulse(s) to the prostate of the patient, receiving a resultant MR signal from the prostate of the patient that can be based on the MR RF pulse(s), determining information regarding a plurality of compartments for the prostate from the resultant MR signal by varying an echo time or a mixing time, and characterizing the microstructure for each of the compartments by applying a microstructural model(s) to each of the compartments.