Versioning schemes for RDF data can play an important role in the management of Semantic web based information. The storage space and the version retrieval is one of the most significant aspects in version management. However, the existing methods have limitations in that they are not efficient in constructing the version. Therefore, there is a need for new and improved techniques that achieve better performance. In this paper, we proposed a hypergraph-based storage policy for RDF version management, which exploits hyperedges and vertices to maintain the information of version. This scheme enables us to reduce the space overhead and reconstruct a specific version efficiently. In addition, we proposed an optimization technique, which results in considerable space saving. An experimental study with RDF data sets shows the proposed storage policy achieved reduced storage space and efficiently reconstructed the version.