This work develops a tension control strategy for deploying an underactuated spin-stable tethered satellite formation in the hub-spoke configuration. First, the Lagrange equation is used to model the spin-deployment dynamics of the tethered satellite formation. The central spacecraft is modeled as a rigid body, and the tethered subsatellites are simplified as lumped masses. Second, a pure tension controller has been proposed to suppress the tether libration motion in the deployment without thrusting at the subsatellites. A nonlinear sliding mode control is introduced in the tension controller for the underactuated system to suppress the periodic gravitational perturbations caused by the spinning hub-spoke tethered satellite formation. The unknown upper bounds of the perturbations are estimated by adaptive control law. The bounded stability of the closed-loop tension controller has been proved by the Lyapunov theory. Finally, numerical simulations validate the effectiveness and robustness of the proposed controller, i.e., tethers are fully deployed stably to the desired hub-spoke configuration.