Polarization-sensitive optical coherence tomography (PSOCT)1 enhances conventional optical coherence tomography (OCT)2 by revealing polarization properties, such as retardance and optical axis, in addition to structural information. Such polarization-dependent contrast has potential applications in a variety of areas, such as ophthalmology, dermatology, and dentistry. Due to the “round-trip” signal detection in OCT, conventional PSOCT measurements are integrated results from the sample surface to the measurement depth. Because such cumulative results are not intuitive for interpretation and incorrect for samples with depth-varying optical axis, various algorithms3–9 have been developed to extract depth-resolved local polarization properties. The majority of these reported methods are Jones matrix-based5–7 OCT systems that require multiple imaging acquisitions with different incident polarization. These algorithms cannot be directly applied to the widely adopted conventional PSOCT systems that use a single circularly polarized incident light. An algorithm8 was recently reported to extract local retardance in birefringent samples using a conventional PSOCT system. However, the local optical axis cannot be obtained by using this algorithm. Here, we extended the previous algorithm8 and developed a new iterative method that can derive a true depth-resolved local optical axis along with local retardance in conventional PSOCT systems.