Synthetic aperture radar (SAR) equipped on the hypersonic air vehicle in near space has many advantages over the conventional airborne SAR. However, its high-speed maneuvering characteristics with curved trajectory result in serious range migration, and exacerbate the contradiction between the high resolution and wide swath. To solve this problem, this paper establishes the imaging geometrical model matched with the flight trajectory of the hypersonic platform and the multichannel azimuth sampling model based on the displaced phase center antenna (DPCA) technology. Furthermore, based on the multichannel signal reconstruction theory, a more efficient spectrum reconstruction model using discrete Fourier transform is proposed to obtain the azimuth uniform sampling data. Due to the high complexity of the slant range model, it is difficult to deduce the processing algorithm for SAR imaging. Thus, an approximate range model is derived based on the minimax criterion, and the optimal second-order approximate coefficients of cosine function are obtained using the two-population coevolutionary algorithm. On this basis, aiming at the problem that the traditional Omega-K algorithm cannot compensate the residual phase with the difficulty of Stolt mapping along the range frequency axis, this paper proposes an Exact Transfer Function (ETF) algorithm for SAR imaging, and presents a method of range division to achieve wide swath imaging. Simulation results verify the effectiveness of the ETF imaging algorithm.