Characterized by high concentrations and significant diurnal dynamics, total suspended particulate matter (TSM) in Hangzhou Bay (HZB) can influence the water quality. Both cruise sampling and polar-orbiting satellite remote sensing make it difficult to synoptically delineate such matter in coastal regions due to insufficient spatiotemporal resolution. However, near-real-time monitoring from the Geostationary Ocean Color Imager (GOCI), the world's first geostationary satellite ocean color sensor, now allows hourly observations of target areas. Here, we developed an empirical TSM retrieval algorithm for the GOCI, based on the spectral absorption index (SAI). Additionally, validations of the atmospheric correction algorithm and SAI TSM algorithm were conducted, with the GOCI-retrieved normalized water-leaving radiance (Lwn) and TSM well-matched with in situ values. Moreover, the diurnal dynamics corresponded to tidal phases, with a maximum-of 5000 mg/L in central HZB. The seasonal variations in TSM were also determined by freshwater inputs and sediment loads, with correlation coefficients of -0.77 and 0.84, respectively. The increased wind speed in winter enhanced vertical mixing and favored the resuspension of sediment to the upper layer, and therefore TSM was higher in winter than in summer. These results highlight the feasibility of using geostationary ocean color remote sensing to monitor short-term and regional oceanic phenomena in coastal waters. Furthermore, this study contributes to our understanding of related sediment dynamics and physical biogeochemical processes.