The invention discloses a spectrum extraction method and device for a hyperspectral collection system, and the hyperspectral collection system comprises a slit, a smartphone, a light-splitting module, and a collimating module. The method comprises the steps: providing various types of monochromatic light through a monochromator, enabling the monochromatic light to reach the collimating module through the slit and becomes parallel light, enabling the parallel light to irradiate the light-splitting module, to pass through a convergence lens, and to pass through a camera lens of the smartphone and finally to be converged at the array detector, and obtaining a plurality of RGB images; obtaining the brightest point in each of the RGB images, enabling the brightest points to serve as the positions of spectrum lines, and determining the displacement values of all spectrum lines through employing an interpolation method; enabling a collected RGB image of a real object to be converted into a gray-scale image, and then plotting a spectrum curve through combining with the displacement values of all spectrum lines; carrying out the compensatory plotting of the spectrum curve according to the actual spectral transmittance through employing a curve fitting algorithm, and obtaining the actual spectrum curve. The method can complete the high-precision extraction of a spectrum, is simple in algorithm, is high in accuracy, and is of great significance to the development of spectral imaging.