Hyperspectral imaging (HSI) offers a wealth of information regarding human skin. In this study, we established a dynamic skin spectral reflectance model (DSSR) relating the reflectance to skin surface strain, considering multi physiological and physical parameters of the skin. Experimentally, by HSI, we measured the reflectance variance of the forearm skin in vivo caused by the surface strain, and assessed these key parameters. For the human skin in vivo, within the strain range covered in this paper, stretching increases spectral reflectance, while compression decreases it. Our proposed model provides a possibility for non-contact strain measurement and health monitoring on the skin in vivo based on HSI.