In this work, we apply a principal component analysis (PCA)-based approach combined with lookup tables (LUTs) of corrections to accelerate the Vector Linearized Discrete Ordinate Radiative Transfer (VLIDORT) model used in the retrieval of ozone profiles from backscattered ultraviolet (UV) measurements by the Ozone Monitoring Instrument (OMI). The spectral binning scheme, which determines the accuracy and efficiency of the PCA-RT performance, is thoroughly optimized over the spectral range 265 to 360 nm with the assumption of a Rayleigh-scattering atmosphere above a Lambertian surface. The high level of accuracy (∼ 0.03 %) is achieved from fast-PCA calculations of full radiances. In this approach, computationally expensive full multiple scattering (MS) calculations are limited to a small set of PCA-derived optical states, while fast single scattering and two-stream MS calculations are performed, for every spectral point. The number of calls to the full MS model is only 51 in the application to OMI ozone profile retrievals with the fitting window of 270-330 nm where the RT model should be called at fine intervals (∼ 0.03 nm with ∼ 2000 wavelengths) to simulate OMI measurements (spectral resolution: 0.4-0.6 nm). LUT corrections are implemented to accelerate the online RT model due to the reduction of the number of streams (discrete ordinates) from 8 to 4, while improving the accuracy at the level attainable from simulations using a vector model with 12 streams and 72 layers. Overall, we speed up our OMI retrieval by a factor of 3.3 over the previous version, which has already been significantly sped up over line-by-line calculations due to various RT approximations. Improved treatments for RT approximation errors using LUT corrections improve spectral fitting (2 %-5 %) and hence retrieval errors, especially for tropospheric ozone by up to ∼ 10 %; the remaining errors due to the forward model errors are within 5 % in the troposphere and 3 % in the stratosphere.