Higher-precision determinations of hydrate reservoirs, hydrate saturation levels and storage estimations are important for guaranteeing the ability to continuously research, develop and utilize natural gas hydrate resources in China. With seismic stereoscopic detection technology, which fully combines the advantages of different seismic detection models, hydrate formation layers can be observed with multiangle, wide-azimuth, wide-band data with a high precision. This technique provides more reliable data for analyzing the distribution characteristics of gas hydrate reservoirs, establishing velocity models, and studying the hydrate-sensitive properties of petrophysical parameters; these data are of great significance for the exploration and development of natural gas hydrate resources. Based on a velocity model obtained from the analysis of horizontal streamer velocity data in the hydrate-bearing area of the Shenhu Sea, this paper uses three VCs (longitudinal spacing of 25 m) and four OBSs (transverse spacing of 200 m) to jointly detect seismic datasets consisting of wave points based on an inversion of traveltime imaging sections. Accordingly, by comparing the differences between the seismic phases in the original data and the forward-modeled seismic phases, multiangle coverage constraint corrections are applied to the initial velocity model, and the initial model is further optimized, thereby improving the imaging quality of the streamer data. Petrophysical elastic parameters are the physical parameters that are most directly and closely related to rock formations and reservoir physical properties. Based on the optimized velocity model, the rock elastic hydrate-sensitive parameters of the hydrate reservoirs in the study area are inverted, and the sensitivities of the petrophysical parameters to natural gas hydrates are investigated. According to an analysis of the inversion results obtained from these sensitive parameters, λρ, Vp and λμ are simultaneously controlled by the bulk modulus and shear modulus, while Vs and μρ are controlled only by the shear modulus, and the latter two parameters are less sensitive to hydrate-bearing layers. The bulk modulus is speculated to be more sensitive than the shear modulus to hydrates. In other words, estimating the specific gravity of the shear modulus among the combined parameters can affect the results from the combined elastic parameters regarding hydrate reservoirs.