When a picosecond light pulse is incident on biological tissue, the temporal characteristics of the light backscattered from, or transmitted through, the sample carry information about the optical absorption and scattering coefficients of the tissue. We develop a simple model, based on the diffusion approximation to radiative transfer theory, which yields analytic expressions for the pulse shape in terms of the interaction coefficients of a homogeneous slab. The model predictions are in good agreement with the results of preliminary in vivo experiments and Monte Carlo simulations.