Hyperspectral image (HSI) denoising is essentially ill-posed since a noisy HSI can be degraded from multiple clean HSIs. However, current deep learning-based approaches ignore this fact and restore the clean image with deterministic mapping (i.e., the network receives a noisy HSI and outputs a clean HSI). To alleviate this issue, this paper proposes a flow-based HSI denoising network (HIDFlowNet) to directly learn the conditional distribution of the clean HSI given the noisy HSI and thus diverse clean HSIs can be sampled from the conditional distribution. Overall, our HIDFlowNet is induced from the flow methodology and contains an invertible decoder and a conditional encoder, which can fully decouple the learning of low-frequency and high-frequency information of HSI. Specifically, the invertible decoder is built by staking a succession of invertible conditional blocks (ICBs) to capture the local high-frequency details since the invertible network is information-lossless. The conditional encoder utilizes down-sampling operations to obtain low-resolution images and uses transformers to capture correlations over a long distance so that global low-frequency information can be effectively extracted. Extensive experimental results on simulated and real HSI datasets verify the superiority of our proposed HIDFlowNet compared with other state-of-the-art methods both quantitatively and visually.