A preserved-amplitude RTM-based FWI method is used to obtain an image of an explored subsurface formation. Model data corresponding to detected data is generated using a velocity model of the formation. Residuals representing differences between the modeled data and the detected data are back-propagated to then update the velocity model a local optimization based on a deconvolution formula employing a backward propagating wavefield and a forward propagating wavefield. Geophysical features of the formation are imaged based on the updated velocity model.