We identified visual assessment value of late phase image to assess abnormal hepatic function and fibrosis. We retrospectively selected 41 patients who underwent Gd-EOB-DTPA enhanced MRI and classified them into three groups based on visual assessment of late phase images. Kruskal–Willis t-test was used to assess significant differences in the LSR of hepatobiliary phase, FIB-4, APRI, and platelet count. Intra-class correlation coefficient (ICC) was used for intra-reader visual assessment of late phase image. Significant differences in all parameters were observed in the groups. ICC was 0.85. Hepatic function or fibrosis might be assessed by visual assessment of late phase image.