This paper presents a complete, compact, and low power consumption instrument designed for time-domain near-infrared spectroscopy. It employs two custom-designed pulsed diode lasers (operating at 830 and 670 nm, with average optical power higher than 2 mW at 40 MHz repetition frequency), a single-photon detection module (based on a 1 mm2 active area silicon photomultiplier), and a custom time-to-digital converter with 10 ps time resolution. The system experimental characterization shows an instrument response function narrower than 300 ps (full-width at half maximum), with measurement stability better than ±1% over several hours of operation. The instrument, which is housed into a compact aluminum case (size 200 × 160 × 50 mm3), is specifically tailored for portability and ease of operation, hence fostering the diffusion of time-domain diffuse optics techniques. Thanks to a total power consumption lower than 10 W, this system is suitable for battery operation, thus enabling on-field measurements.