Rationale and Objectives: We aimed to determine the utility of various diffusion parameters obtained from monoexponential, biexponential, and stretched exponential diffusion-weighted imaging (DWI) models in differentiating tumor stage and grade of bladder cancer. Materials and Methods: Forty-five patients with pathologically confirmed bladder cancer underwent multi-b-value DWI. An apparent diffusion coefficient (ADC) was calculated from DWI by using a monoexponential model. A true diffusion coefficient (D), perfusion-related pseudo-diffusion coefficient (D*), and perfusion fraction (f) were calculated from DWI by using a biexponential model. A water molecular diffusion heterogeneity index (a) and distributed diffusion coefficient (DDC) were calculated from DWI by using a stretched exponential model. All parameters were compared between different stages and grades by using the Mann-Whitney U test. Receiver operating characteristic and intrareader correlation coefficient analysis were used for statistical evaluations. Results: ADC, 0, f, and DDC values were significantly higher in the non muscle-invasive vs muscle-invasive bladder cancers (P =.000,.000,.002, and.000, respectively) and in low-grade vs high-grade ones (P =.000,.000,.018, and.000, respectively). D* value was significantly lower in the low-grade bladder cancers compared to high-grade ones (P =.012). The areas under the receiver operating characteristic curve of ADC, D, and DDC values were 0.945, 0.912, and 0.946 in staging bladder cancers; 0.866, 0.862, and 0.856 in grading bladder cancers, respectively. Conclusion: Biexponential and stretched exponential DWI models may provide more parameters in staging and grading bladder cancers and show a slight difference between DDC and ADC values in staging bladder cancers. These two DWI models, as well as the monoexponential models, were very helpful in staging and grading bladder cancers.