To simplify the model and improve the precision of prediction model, latent projective graph (LPG) was used for variable selection. The original spectrum was processed by continuous wavelet transform (CWT), LPG was obtained by principal component analysis (PCA), and based on the assumption that collinear wavelengths might have the same contribution to the modeling, a few latent spectral variables were selected for establishing prediction model. The root mean square error of prediction (RMSEP) model was 0.3454, better than other modeling methods. This work proved that variable selection with LPG could simplify the near-infrared spectral model effectively, and improve the precision of prediction model.