The studies on the hyperspectral inversion of salt lakes are still scarce due to the limitations of geographical conditions at present. This study explores the inversion ideas and methods of the water quality parameters of salt lakes by taking the dissolved oxygen inversion of a salt lake as an example. Based on the analyses of the hyperspectral data of the Chaerhan Salt Lake in Qinghai Province and the hyperspectral inversion technology of water quality parameters, this study determined the hyperspectral inversion model of the dissolved oxygen in the salt lake by means of waveband combination using the unique spectral information of the water body of the lake. The results show that the correlation coefficient between various wavebands of the original spectrum curve and the dissolved oxygen content was less than 0.3, while that between the band combination data in the unique spectral information of the water body and the dissolved oxygen content was greater than 0.75. According to the precision verification of the finally established band ratio model using the measured value, the inversion result of the dissolved oxygen content was roughly consistent with the measured value. It is impossible for the water quality parameters to significantly change with time owing to the relatively stable nature of the water body of the salt lake. Therefore, the verification using the measured data of November 2019 can also indicate that the waveband ratio model established based on the spectral characteristics of the salt lake enjoys high precision for a long term. Therefore, the hyperspectral inversion model can meet the precision requirements for the large-area monitoring of the dissolved oxygen in the lake area. Meanwhile, this study also proposed a new idea for the establishment of the inversion model of plateau salt lakes, which lays a foundation for the establishment of the monitoring system of plateau lakes in the future.