This paper presents the mission overview of a hyperspectral imaging payload currently under development in the Philippines by the Philippine Space Agency. The payload objectives, science applications, and target system design parameters that satisfy the mission requirements are outlined. The study also identifies the specifications, functionalities, and capabilities required for the satellite payload to generate images suitable for the intended mission and explains the reasoning behind the analyses done. The hyperspectral imager consists of three identified subsystems: optics, optoelectronics, and optomechanics. Particular attention is given to these subsystems, with emphasis on optimization efforts aimed at minimizing the cost while maintaining the desired image quality. The requirements for each subsystem are validated through preliminary design calculations, budget analyses, and simulations. Overall, this study establishes the mission design and key requirements for developing a spaceborne hyperspectral imager that addresses the Philippines’ demand for high spectral resolution data in agriculture and water resource management applications.