diff --git a/lib/xlsx/xform/sheet/hyperlink-xform.js b/lib/xlsx/xform/sheet/hyperlink-xform.js
index 3fb560a6d..88f4ee2ec 100644
--- a/lib/xlsx/xform/sheet/hyperlink-xform.js
+++ b/lib/xlsx/xform/sheet/hyperlink-xform.js
@@ -6,11 +6,20 @@ class HyperlinkXform extends BaseXform {
   }
 
   render(xmlStream, model) {
-    xmlStream.leafNode('hyperlink', {
-      ref: model.address,
-      'r:id': model.rId,
-      tooltip: model.tooltip,
-    });
+    if (this.isInternalLink(model)) {
+      xmlStream.leafNode('hyperlink', {
+        ref: model.address,
+        'r:id': model.rId,
+        tooltip: model.tooltip,
+        location: model.target,
+      });
+    } else {
+      xmlStream.leafNode('hyperlink', {
+        ref: model.address,
+        'r:id': model.rId,
+        tooltip: model.tooltip,
+      });
+    }
   }
 
   parseOpen(node) {
@@ -20,6 +29,11 @@ class HyperlinkXform extends BaseXform {
         rId: node.attributes['r:id'],
         tooltip: node.attributes.tooltip,
       };
+
+      // This is an internal link
+      if (node.attributes.location) {
+        this.model.target = node.attributes.location;
+      }
       return true;
     }
     return false;
@@ -30,6 +44,11 @@ class HyperlinkXform extends BaseXform {
   parseClose() {
     return false;
   }
+
+  isInternalLink(model) {
+    // @example: Sheet2!D3, return true
+    return model.target && /^[^!]+![a-zA-Z]+[\d]+$/.test(model.target);
+  }
 }
 
 module.exports = HyperlinkXform;
diff --git a/spec/unit/xlsx/xform/sheet/hyperlink-xform.spec.js b/spec/unit/xlsx/xform/sheet/hyperlink-xform.spec.js
index 4292dfe9d..9e25bbc61 100644
--- a/spec/unit/xlsx/xform/sheet/hyperlink-xform.spec.js
+++ b/spec/unit/xlsx/xform/sheet/hyperlink-xform.spec.js
@@ -15,6 +15,18 @@ const expectations = [
     xml: '<hyperlink ref="B6" r:id="rId1"/>',
     tests: ['render', 'renderIn', 'parse'],
   },
+  {
+    title: 'Internal Link',
+    create() {
+      return new HyperlinkXform();
+    },
+    preparedModel: {address: 'B6', rId: 'rId1', target: 'sheet1!B2'},
+    get parsedModel() {
+      return this.preparedModel;
+    },
+    xml: '<hyperlink ref="B6" r:id="rId1" location="sheet1!B2"/>',
+    tests: ['render', 'renderIn', 'parse'],
+  },
 ];
 
 describe('HyperlinkXform', () => {