The simulation and analysis of a hyperentangled photon source based on polarization and transverse momentum are achieved using the MATLAB platform. The analysis includes determining the emission pattern of a spontaneous parametric down-conversion source and the opening angles of emission cones and their dependence on wavelength. The energy conservation in the generation process and the correlations between the hyperentangled states are investigated. The results show that the generated states are maximally entangled, and Bell’s inequality test is proven to satisfy the theoretical limits. The proposed model gives better insight into the generation process of hyperentangled photons. It could be integrated with simulations of any arbitrary system based on a hyperentangled source.