Developments in multi-channel radio-frequency (RF) coil array technology have enabled functional magnetic resonance imaging (fMRI) with higher degrees of spatial and temporal resolution. While modest improvement in temporal acceleration has been achieved by increasing the number of RF coils, the maximum attainable acceleration in parallel MRI acquisition is intrinsically limited only by the amount of independent spatial information in the combined array channels. Since the geometric configuration of a large-n MRI head coil array is similar to that used in EEG electrode or MEG SQUID sensor arrays, the source localization algorithms used in MEG or EEG source imaging can be extended to also process MRI coil array data, resulting in greatly improved temporal resolution by minimizing k-space traversal during signal acquisition. Using a novel approach, we acquire multi-channel MRI head coil array data and then apply inverse reconstruction methods to obtain volumetric fMRI estimates of blood oxygenation level dependent (BOLD) contrast at unprecedented whole-brain acquisition rates of 100 ms. We call this combination of techniques magnetic resonance Inverse Imaging (InI), a method that provides estimates of dynamic spatially-resolved signal change that can be used to construct statistical maps of task-related brain activity. We demonstrate the sensitivity and inter-subject reliability of volumetric InI using an event-related design to probe the hemodynamic signal modulations in primary visual cortex. Robust results from both single subject and group analyses demonstrate the sensitivity and feasibility of using volumetric InI in high temporal resolution investigations of human brain function.