Aim: Near-infrared spectroscopy (NIRS) indices during an arterial occlusion-reperfusion maneuver have been used to examine muscle oxidative metabolism and microvascular function, both important determinants of whole-body aerobic fitness. We examined whether NIRS-derived indices of muscle deoxygenation and microvascular reactivity assessed during an occlusion-reperfusion at rest are associated with maximal and submaximal indices of whole-body aerobic fitness and could discriminate individuals based on their VO2max. We also investigated which NIRS parameter during occlusion-reperfusion correlates best with whole-body aerobic fitness. Material and method: Twenty-five young individuals performed an arterial occlusion-reperfusion at rest. Changes in oxygenated and deoxygenated hemoglobin (O2Hb and HHb, respectively) in the vastus lateralis were monitored, and adipose-tissue thickness (ATT) at the NIRS application site was assessed. Participants also underwent a maximal incremental exercise test for VO2max, maximal aerobic velocity (MAV), and ventilatory-threshold (VT) assessments. Results: The HHb slope and magnitude of increase during the occlusion phase and the O2Hb magnitude of increase during the reperfusion phase were strongly correlated with VO2max (r = 0.695-0.763, p < 0.001) and moderately correlated with MAV (r = 0.468-0.530, p < 0.05). O2Hb magnitude was moderately correlated with VTs (r = 0.399-0.414, p < 0.05). After controlling for ATT, correlations remained significant for VO2max (r = 0.672-0.704, p < 0.001) and MAV (r = 0.407, p < 0.05). Individuals in the high percentiles after median and tertile splits for HHb slope and O2Hb magnitude had significantly greater VO2max than those in low percentiles (p < 0.01-0.05). NIRS parameters showed excellent-to-outstanding ability to detect high VO2max values (>56 mL·kg-1·min-1; AUC = 0.807-0.904, p < 0.01-0.05). The HHb slope during occlusion was the best predictor of VO2max. Conclusions: NIRS-derived muscle-deoxygenation and microvascular-reactivity indices during a single arterial occlusion-reperfusion maneuver are strongly associated with whole-body maximal indices of aerobic fitness (VO2max and MAV) and may discriminate individuals with different VO2max.