After the induction of liver fibrosis, canines were treated with BMSCs via the peripheral vein (Vein group) or hepatic artery (Artery group). (a) Indocyanine green (ICG) half-life (t1/2) in the Vein group was slightly decreased at 4 weeks post-BMSC administration, from 13.4 ± 2.3 min (0W) to 12.2 ± 2.0 min (4W), but increased from 8 weeks onward to 14.3 ± 1.1 min (8W) and 13.7 ± 1.7 min (12W). In the Artery group, the ICG t1/2 decreased from 16.1 ± 2.3 min (0W) to 13.4 ± 0.8 min (4W), and this value was subsequently maintained (12.3 ± 3.3 min (8W), 12.0 ± 1.5 min (12W)). (b) The ΔICG t1/2 value was significantly decreased in the Vein group compared to that in the Control group at 4 weeks post-BMSC administration (ΔICG t1/2 (min): −1.2 ± 0.7 vs. 1.7 ± 1.4; p < 0.01). Moreover, the ICG t1/2 in the Artery group (n = 4) was significantly decreased at 8 weeks (Δt1/2: −4.2 ± 1.7 min vs. +0.4 ± 2.7 min; p < 0.01) and 12 weeks after BMSC administration (Δt1/2: −4.2 ± 1.7 min vs. +0.4 ± 2.7 min; p < 0.05) even when compared to that in the Vein group. All error bars represent the standard deviation of the mean.