diff --git a/src/index.js b/src/index.js
index 9f5a938..d7a28ea 100755
--- a/src/index.js
+++ b/src/index.js
@@ -1312,6 +1312,16 @@ class Workbook {
             }
 
         });
+
+        // Update hyperlinks refs
+        sheet.findall("hyperlinks/hyperlink").forEach(function (hyperlink) {
+            var ref = self.splitRef(hyperlink.attrib.ref);
+            var colNumber = self.charToNum(ref.col);
+            if (colNumber > currentCol) {
+                ref.col = self.numToChar(colNumber + numCols);
+                hyperlink.attrib.ref = self.joinRef(ref);
+            }
+        });
     }
     // Look for any merged cell, named table or named range definitions below
     // `currentRow` and push down by `numRows` (used when rows are inserted).
@@ -1414,6 +1424,15 @@ class Workbook {
             }
 
         });
+
+        // Update hyperlinks refs
+        sheet.findall("hyperlinks/hyperlink").forEach(function (hyperlink) {
+            var ref = self.splitRef(hyperlink.attrib.ref);
+            if (ref.row > currentRow) {
+                ref.row += numRows;
+                hyperlink.attrib.ref = self.joinRef(ref);
+            }
+        });
     }
     getWidthCell(numCol, sheet) {
         var defaultWidth = sheet.root.find("sheetFormatPr").attrib["defaultColWidth"];
diff --git a/test/crud-test.ts b/test/crud-test.ts
index b926837..aacac31 100644
--- a/test/crud-test.ts
+++ b/test/crud-test.ts
@@ -684,6 +684,66 @@ describe("CRUD operations", function() {
           });
         });
 
+        it("moved hyperlinks in sheet", function(done) {
+          fs.readFile(path.join(__dirname, "templates", "test-moved-hyperlinks.xlsx"), function(err, data) {
+            expect(err).toBeNull();
+
+            var t = new XlsxTemplate(data);
+
+            t.substitute(1, {
+              email: "john@bob.com",
+              subject: "hello",
+              url: "http://www.google.com",
+              domain: "google",
+              rows: [{
+                name: 'One',
+                amount: 1,
+              }, {
+                name: 'Two',
+                amount: 2,
+              }, {
+                name: 'Three',
+                amount: 3,
+              }],
+              list: ['A', 'B', 'C', 'D']
+            });
+
+            var newData = t.generate();
+
+            var sharedStrings = etree.parse(t.archive.file("xl/sharedStrings.xml").asText()).getroot(),
+              sheet1        = etree.parse(t.archive.file("xl/worksheets/sheet1.xml").asText()).getroot(),
+              rels          = etree.parse(t.archive.file("xl/worksheets/_rels/sheet1.xml.rels").asText()).getroot()
+            ;
+
+            // Every hyperlink has being substituted
+            expect(rels.find("./Relationship[@Id='rId1']").attrib.Target).toEqual("mailto:john@bob.com?subject=Hello%20hello");
+            expect(rels.find("./Relationship[@Id='rId2']").attrib.Target).toEqual("http://www.google.com");
+            expect(rels.find("./Relationship[@Id='rId3']").attrib.Target).toEqual("mailto:john@bob.com?subject=Hello%20hello");
+            expect(rels.find("./Relationship[@Id='rId4']").attrib.Target).toEqual("http://www.google.com");
+            expect(rels.find("./Relationship[@Id='rId5']").attrib.Target).toEqual("mailto:john@bob.com?subject=Hello%20hello");
+            expect(rels.find("./Relationship[@Id='rId6']").attrib.Target).toEqual("http://www.google.com");
+
+            // Hyperlinks have moved
+            expect(sheet1.find("./hyperlinks/hyperlink[@ref='B7']")).not.toBeNull(); // before table and list - unchanged
+            expect(sheet1.find("./hyperlinks/hyperlink[@ref='C7']")).not.toBeNull(); // before table and list - unchanged
+
+            expect(sheet1.find("./hyperlinks/hyperlink[@ref='B14']")).toBeNull(); // pushed down
+            expect(sheet1.find("./hyperlinks/hyperlink[@ref='B16']")).not.toBeNull(); // pushed down
+            expect(sheet1.find("./hyperlinks/hyperlink[@ref='C14']")).toBeNull(); // pushed down
+            expect(sheet1.find("./hyperlinks/hyperlink[@ref='C16']")).not.toBeNull(); // pushed down
+
+            expect(sheet1.find("./hyperlinks/hyperlink[@ref='F14']")).toBeNull(); // pushed down and accross
+            expect(sheet1.find("./hyperlinks/hyperlink[@ref='I16']")).not.toBeNull(); // pushed down and accross
+            expect(sheet1.find("./hyperlinks/hyperlink[@ref='G14']")).toBeNull(); // pushed down and accross
+            expect(sheet1.find("./hyperlinks/hyperlink[@ref='J16']")).not.toBeNull(); // pushed down and accross
+
+            // XXX: For debugging only
+            fs.writeFileSync("test/output/test-moved-hyperlinks.xlsx", newData, "binary");
+
+            done();
+          });
+        });
+
         it("moves named tables, named cells and merged cells", function(done) {
 
             fs.readFile(path.join(__dirname, "templates", "test-named-tables.xlsx"), function(err, data) {
diff --git a/test/templates/test-moved-hyperlinks.xlsx b/test/templates/test-moved-hyperlinks.xlsx
new file mode 100644
index 0000000..32b6d20
Binary files /dev/null and b/test/templates/test-moved-hyperlinks.xlsx differ