diff --git a/src/Spout/Writer/XLSX/Internal/Worksheet.php b/src/Spout/Writer/XLSX/Internal/Worksheet.php
index 5896c05..4628bb3 100644
--- a/src/Spout/Writer/XLSX/Internal/Worksheet.php
+++ b/src/Spout/Writer/XLSX/Internal/Worksheet.php
@@ -200,11 +200,22 @@ EOD;
         $cellXML .= ' s="' . $styleId . '"';
 
         if (CellHelper::isNonEmptyString($cellValue)) {
-            if ($this->shouldUseInlineStrings) {
-                $cellXML .= ' t="inlineStr"><is><t>' . $this->stringsEscaper->escape($cellValue) . '</t></is></c>';
+            $matches = array();
+            if (preg_match('/=HYPERLINK\("(.*)","(.*)"\)/', $cellValue, $matches)) {
+                // Special case to add HYPERLINK Formula
+                $url = $this->stringsEscaper->escape($matches[1]);
+                $text = $this->stringsEscaper->escape($matches[2]);
+                $formula = sprintf('HYPERLINK("%s","%s")', $url, $text);
+                $cellXML = sprintf(
+                    '<c r="%s%s" t="str"><f>%s</f><v>%s</v></c>',
+                    $columnIndex, $rowIndex, $formula, $text);
             } else {
-                $sharedStringId = $this->sharedStringsHelper->writeString($cellValue);
-                $cellXML .= ' t="s"><v>' . $sharedStringId . '</v></c>';
+                if ($this->shouldUseInlineStrings) {
+                    $cellXML .= ' t="inlineStr"><is><t>' . $this->stringsEscaper->escape($cellValue) . '</t></is></c>';
+                } else {
+                    $sharedStringId = $this->sharedStringsHelper->writeString($cellValue);
+                    $cellXML .= ' t="s"><v>' . $sharedStringId . '</v></c>';
+                }
             }
         } else if (CellHelper::isBoolean($cellValue)) {
             $cellXML .= ' t="b"><v>' . intval($cellValue) . '</v></c>';