Real-time MRI plays an important role in studying articulator movements during typical and atypical human speech. Recently, real-time tagging methods were developed to reveal inner tongue movements, including deformations in the body of the tongue that were previously unobservable. Here, we demonstrate tracking of tongue deformations and estimation of tongue strain from real-time tagging, using a motion-compensated total generalized variation reconstruction and optical flow. Optical flow tracking has an averaged error of 1.10±0.83mm, compared with manually tracked tagged line intersections, while intra-observer variability is 0.80±0.49mm. The estimated tongue deformation and strain maps provide for linguistically sensible interpretation.