We present the design of a full waveform hyperspectral light detection and ranging (LiDAR) and the first demonstrations of its applications in remote sensing. The novel instrument produces a 3D point cloud with spectral backscattered reflectance data. This concept has a significant impact on remote sensing and other fields where target 3D detection and identification is crucial, such as civil engineering, cultural heritage, material processing, or geomorphological studies. As both the geometry and spectral information on the target are available from a single measurement, this technology will extend the scope of imaging spectroscopy into spectral 3D sensing. To demonstrate the potential of the instrument in the remote sensing of vegetation, 3D point clouds with backscattered reflectance and spectral indices are presented for a specimen of Norway spruce.