Ocean waves properties propagating in grease ice composed of frazil and pancakes as observed by SAR images are discussed. An ERS-2 SAR scene relevant to the Greenland Sea in an area where the Odden ice tongue developed in 1997 is considered as case study. The scene includes open sea and ice covered waters where a wave field is traveling from the open sea region. Wind induced features known as "wind rolls" can be distinguished, allowing the estimation of the wind vector. Hence the related wind generated ocean waves can be retrieved using a SAR spectral inversion procedure. The wave field is tracked while it propagates inside the ice field, thus allowing the estimation of the wave changes. Under the assumption of continuum medium, physical ice properties are then retrieved using a special SAR inversion procedure in conjunction with a recently developed wave propagation model in sea ice. The model assumes both the ice layer and the water beneath it as a system of viscous fluids. As a result, the changes suffered by the ocean wave spectrum in terms of wave dispersion and energy attenuation are related to sea ice properties such as concentration and thickness. Although the free parameters to be inverted are the ice thickness and viscosity and the water viscosity, the ice thickness is the only parameter of geophysical interest. Results are finally compared with external ice parameters information.