The accuracy of intraocular lens (IOL) power calculation was evaluated in a multicenter study of 822 IOL implantations using the Binkhorst II, Sanders/Retzlaff/Kraff (SRK I, SRK II, SRK/T), Holladay, and Olsen formulas. All but the first of these were optimized in retrospect with calculation of the SRK A-constant, the Holladay surgeon factor, and the Olsen pseudophakic anterior chamber depth (ACD) for each lens style. The ACD prediction of the Olsen formula was based on a previously described regression formula incorporating preoperative ACD, corneal height, axial length, and lens thickness. Among the optical IOL power calculation formulas, the highest IOL power prediction error was found with Binkhorst's and the lowest with Olsen's, which was more accurate than the SRK/T and the Holladay formulas (P < .05). The SRK/T formula was significantly more accurate than the original SRK regression formulas (P < .001). When analyzed for axial length dependence, all formulas showed the least error in the normal range. Error of the Olsen formula was lower than that of the others in the axial length interval 20 mm to 26 mm. No differences in accuracy were found between the optical IOL calculation formulas in eyes with an axial length above 26 mm (P < .05). The accuracy of IOL power calculation can be improved with optical formulas using newer-generation ACD-prediction algorithms.