We report a mean-field theoretical study of a triangular lattice magnet NiGa 2 S 4 . Specifically, spiral mean-field theory is applied to a 17-band d-p model constructed from the maximally localized Wannier functions. Our itinerant-model approach shows that the most stable spiral magnetic state has an ordering vector near Q = (0.15, 0.15, 0), consistent with neutron scattering experiments, when we assume the Ni-site Coulomb interaction is not so strong (U ≈ 2 eV). To map onto a classical Heisenberg spin model, we estimate spin exchange interactions from the mean-field results, and find that the nearest-neighbor exchange is ferromagnetic and the largest (larger than the third nearest-neighbor exchange, in contrast to early studies). We also calculate the dynamical spin correlation function S(q, ω), using the same model within the randomphase approximation (RPA). Calculated S(q, ω) has a spectral structure quite different from that of conventional spin-wave excitations. *