Accurate retrieval of biogeochemical components of the ocean at a global scale from space requires accurately calibrated top-of-atmosphere (TOA) radiance, which is usually achieved by deriving a vicarious gain coefficient (g-factor) through a process called system vicarious calibration (SVC). Currently, only two SVC sites, Marine Optical Buoy (MOBY) and BOUée pour l'acquiSition d'une Série Optique à Long termE (BOUSSOLE), are routinely operated to support the SVC process for all on-orbit ocean color satellite payloads. However, high-quality matchups between satellite observations and in situ measurements are rare because of the strict requirements of the SVC process. Meanwhile, a stable g-factor is usually computed by averaging sufficient gain measurements. Therefore, more SVC sites are required to derive a stable g-factor in a short duration, particularly for the initial calibration of newly launched satellite sensors. In this study, nearly twenty years of well-calibrated ocean color satellite data were used to calculate the mean and standard deviation of physical and optical properties of waters and the atmosphere in the South China Sea (SCS) to evaluate the feasibility of establishing a SVC site. A region was identified that meets all requirements that were used to evaluate the MOBY and BOUSSOLE sites. Two in situ measurements within this region were used to derive a g-factor for MODIS-Terra and MODIS-Aqua and were compared with the g-factor derived using MOBY data. The consistence of the two g-factors indicates that the identified region in the SCS could be a potential area for establishing a long-term moored SVC site.