A fast algorithm for endmember extraction is proposed in this study which extracts min. and max. pixels from each band after MNF transform as candidate pixels for endmember. This method finds endmembers not from the entire image pixels but only from the previously extracted candidate pixels. The experimental results by N-FINDR using a simulated hyperspectral image data and AVIRIS Cuprite image data showed that the proposed fast algorithm extracts the same endmembers with the conventional methods. More studies on the effect of noise and more adaptive criteria in extracting candidate pixels are expected to increase the usability of this method for more fast and efficient analysis of hyperspectral image data.