Cardiac pressure-volume loop analysis provides important information on cardiac function, but is currently not widely utilized clinically since invasive measurements are required. This study aimed to develop and validate a non-invasive method of estimating pressure-volume loops, via a model-based framework using cardiovascular magnetic resonance. The method yields individualized pressure-volume loops computed using time-varying elastance, with left ventricular volume and brachial pressure as input. Experimental validation showed strong agreement to in-vivo measurements, and application to healthy controls and heart failure patients yielded expected results. Hence, the model is a promising method for obtaining pressure-volume loops from magnetic resonance imaging.