Hyperspectral inversion techniques can facilitate soil quality monitoring and evaluation. In this study, the Yellow River Delta Wetland Nature Reserve was used as the study area. By measuring and analyzing soil samples under different vegetation types and collecting soil reflectance spectra, the relationships between vegetation types, soil depth, and the changes in soil total carbon (TC), total nitrogen (TN), and total phosphorus (TP) contents were assessed. The spectral data set was changed by spectral first derivative processing and division of the sample set according to vegetation type. The correlation between soil carbon, nitrogen, and phosphorus contents, and soil spectra was also analyzed, sensitive bands were selected, and the partial least-squares (PLS) method, support vector machine (SVM) method, and random forest (RF) model were used to establish the inversion model based on the characteristic bands. The optimal combination of spectral transformation, sample set partitioning, and inversion model was explored. The results showed significant differences (p < 0.05) in soil TC, TN, and TP contents under reed and saline alkali poncho vegetation, but not between soil element contents under different stratifications of the same plant species. The first derivative reflectance had higher correlation coefficients with soil TC, TN, and TP contents compared with the original reflectance, while the sensitive bands and quantities of the three elements differed. The division of the sample sets according to vegetation type and the first derivative treatment can improve the prediction accuracy of the model. The best combination of sample set plus FD plus RF for TC, TN, and TP in reed soil and sample set plus FD plus SVM for TC, TN, and TP in saline alkali pine soil provides technical support to further improve the prediction accuracy of TC, TN, and TP in wetland soil.