Knowledge of saturation intensity of gain or absorption plays a fundamental role in a variety of applications ranging from lasers to many nonlinear optical processes. Here, we present an analytical expression for open-aperture Z-scan transmission for accurately measuring the saturation intensity in the low absorbance samples but at arbitrary pump intensities. We exploit this formalism to investigate the absorption saturation of LiYF4:Yb3+ (YLF:Yb) in the anti-Stokes excitation region for optical refrigeration at high pump intensities. An absorption saturation intensity of 14.5±1kW/cm2 was measured in YLF:Yb at 1020 nm (E||c) at room temperature.