A physiological sensor includes a light source and an age detector circuit in communication with the light source. The age detector circuit is configured to determine an age of the light source based on current-voltage characteristics of said light source. In addition, a method includes measuring an initial I-V characteristic and an actual I-V characteristic of the light source, and comparing the initial I-V characteristic to the actual I-V characteristic since changes in the I-V characteristics indicate aging. Actual I-V characteristics can be compared between light sources when they age at different rates to determine light source aging. Moreover, the method may include updating the memory device with the actual I-V characteristic at predetermined times.