In recent years, the demand for capturing spectral information with finer detail has increased, requiring hyperspectral imaging devices capable of acquiring the required information with increased temporal, spatial and spectral resolution. In this work, we present the image acquisition model of the Image SPectrometer On Chip (ImSPOC), a novel compact snapshot image spectrometer based on the interferometry of Fabry-Perot. Additionally, we propose the interferometer response characterization algorithm (IRCA), a robust three-step procedure to characterize the ImSPOC device that estimates the optical parameters of the composing interferometers’ transfer function. The proposed algorithm processes the image output from a set of monochromatic light sources, refining the results through nonlinear regression after an ad-hoc initialization. Experimental analysis confirms the performances of the proposed approach for the characterization of four different ImSPOC prototypes. The source code associated to this paper is available at https://github.com/danaroth83/irca.