Aerosol scattering is an important source of error in CO2 retrievals from satellite. This paper presents an analysis of aerosol information content from the Cloud and Aerosol Polarimetric Imager (CAPI) onboard the Chinese Carbon Dioxide Observation Satellite (TanSat) to be launched in 2016. Based on optimal estimation theory, aerosol information content is quantified from radiance and polarization observed by CAPI in terms of the degrees of freedom for the signal (DFS). A linearized vector radiative transfer model is used with a linearized Mie code to simulate observation and sensitivity (or Jacobians) with respect to aerosol parameters. In satellite nadir mode, the DFS for aerosol optical depth is the largest, but for mode radius, it is only 0.55. Observation geometry is found to affect aerosol DFS based on the aerosol scattering phase function from the comparison between different viewing zenith angles or solar zenith angles. When TanSat is operated in target mode, we note that multi-angle retrieval represented by three along-track measurements provides additional 0.31 DFS on average, mainly from mode radius. When adding another two measurements, the a posteriori error decreases by another 2%–6%. The correlation coefficients between retrieved parameters show that aerosol is strongly correlated with surface reflectance, but multi-angle retrieval can weaken this correlation.