Rapid and accurate dynamic monitoring and quantitative analysis of red tide disasters are of significant practical importance to national economic development. Remote sensing technology is an effective means for monitoring red tides. This paper utilizes GOCI satellite data and employs a quasi-analytical algorithm (QAA) to retrieve the spectral curves of phytoplankton absorption coefficients. On the basis of a detailed analysis of the differences in the spectral curves of the phytoplankton absorption coefficients between red tide and non-red tide waters, we establish a red tide identification algorithm for the East China Sea on the basis of phytoplankton absorption coefficients. The algorithm is applied to multiple red tide events in the East China Sea. The results indicate that this algorithm can effectively determine the occurrence locations of red tides and extract relevant information about them.