Precise information on dispersion of the nonlinear optical susceptibility of Raman active media is essential in order to get an insight into physics and chemistry of intra- and inter-molecular interactions. We propose and experimentally demonstrate a method that is capable of resolving both real and imaginary parts of third-order nonlinearity (χ<sup>(3)</sup>) in the vicinity of Raman resonances. Dispersion of χ<sup>(3)</sup> can be obtained from a medium probed within microscopic volumes with a spectral resolution of better than 0.1 cm<sup>-1</sup> thus making our approach an essential tool in quantitative microscopic characterization of complex biological media. Time-domain CARS transients traced with femtosecond pulses within orders of magnitude in the signal decay can lead to resolution of fine spectral features in χ<sup>(3)</sup> dispersion that can not be reliably detected by frequency-domain Raman based spectroscopy/microscopy techniques, including coherent methods. We will present results of the method’s application in biological cells and tissue. Namely, we accessed a protein line at 1245 cm<sup>-1</sup> in E-coli cell, major DNA and protein lines in red blood cells and triglyceride Raman active peaks in fat tissue.