The spatial resolution and spectral sensitivity of payloads on satellites have been constantly developed with technique improvement. The high spatial and hyperspectral satellites afford quantitative and complicated spatial and spectral information, but how to select useful information is a challenge for the users trying to use these high spatial and hyperspectral data. In this study, we used a portable spectroradiometer to acquire hyperspectral data of dinophyte, diatom, and chlorophyte suspensions at different concentrations. The biomass and algal pigments of dinophyte, diatom, and chlorophyte were also measured. Furthermore, the relationships between the biomass and algal pigments of dinophyte, diatom, and chlorophyte and their hyperspectral data were established. Finally, we extracted the needed information from the relationships and used the hyperspectral data to analyze the algal bloom phenomenon in Techi Reservoir.