Leaf area index (LAI) and above-ground biomass are both vital indicators for evaluating crop growth and development, while rapid and non-destructive estimation of crop LAI and above-ground biomass is of considerable significance for crop field management. Owing to the advantages of repeatable and high-throughput observations, spectral technology provides a feasible method for obtaining LAI and above-ground biomass of crops. In the present study, the spectral, LAI and above-ground biomass data of winter wheat were collected, and 7 species (14 in total) were calculated based on the original and first-order differential spectrum correlation spectral indices with LAI. Then, the correlation matrix method was used for correlation with LAI. The optimal wavelength combination was extracted, and the results were calculated as the optimal spectral index related to LAI. The calculation process of the optimal spectral index related to above-ground biomass was the same as that aforementioned. Finally, the optimal spectral index was divided into three groups of model input variables, winter wheat LAI and above-ground biomass estimation models were constructed using support vector machine (SVM), random forest (RF) and a back propagation neural network (BPNN), and the models were verified. The results show that the correlation coefficient between the highest of the optimal spectral indices, the LAI, and the above-ground biomass of winter wheat exceeded 0.6, and the correlation was good. The methods for establishing the optimal estimation models for LAI and above-ground biomass of winter wheat are all modeling methods in which the input variables are the combination of the first-order differential spectral index (combination 2) and RF. The R² of the LAI estimation model validation set was 0.830, the RMSE was 0.276, and the MRE was 6.920; the R² of the above-ground biomass estimation model validation set was 0.682, RMSE was 235.016, MRE was 4.336, and the accuracies of both models were high. The present research results can provide a theoretical basis for crop monitoring based on spectral technology and provide an application reference for the rapid estimation of crop growth parameters.