With the increase in capacity of photovoltaic generation systems, studies are being actively conducted to improve system efficiency. In order to develop the high performance photovoltaic power system it is required to understand the physical characteristics of the solar cell. However, solar cell models have a non-linear form with many parameters entangled and conventional methods suggested to extract the parameters of the solar cell model require some kind of assumptions, which accompanies the calculation errors, thereby lowering the accuracy of the model. Therefore, in this paper a novel method is proposed to calculate the ideality factor and reverse saturation current of the solar cell from the I-V curve measured and announced by solar cell manufacturers, derive the ideal I-V curve, and then extract the series and shunt resistances value from the difference between the ideal and measured I-V curve. Also, validity of the proposed method is demonstrated by calculating the correlation between I-V curve based on modeling parameters and I-V curve actually measured through least squares method.