$H_v$-rings first were introduced by Vougiouklis in 1990. Then Darafsheh and the present author defined the $H_v$-ring of fractions $S_{-1}R$ of a commutative hyperring. The largest class of multivalued systems satisfying the module-like axioms is the Hv-module. In this paper we define $H_v$-module of fractions of a hypermodule. Some interesting results concerning this $H_v$-module is proved.