A measurement system for use in measuring parameters of a patterned sample is presented. The system comprises: a broadband light source; an optical system configured as an interferometric system; a detection unit; and a control unit. The interferometric system defines illumination and detection channels having a sample arm and a reference arm comprising a reference reflector, and is configured for inducing an optical path difference between the sample and reference arms; the detection unit comprises a configured and operable for detecting a combined light beam formed by a light beam reflected from said reflector and a light beam propagating from a sample's support, and generating measured data indicative of spectral interference pattern formed by at least two spectral interference signatures. The control unit is configured and operable for receiving the measured data and applying a model-based processing to the spectral interference pattern for determining one or more parameters of the pattern in the sample.