In this paper, an improved empirical mode decomposition (EMD) algorithm for phonocardiogram (PCG) signal de-noising is proposed. Based on PCG signal processing theory, the S1/S2 components can be extracted by combining the improved EMD-Wavelet algorithm and Shannon energy envelope algorithm. Firstly, by applying EMD-Wavelet algorithm for pre-processing, the PCG signal was well filtered. Then, the filtered PCG signal was saved and applied in the following processing steps. Secondly, time domain features, frequency domain features and energy envelope of the each intrinsic mode function's (IMF) were computed. Based on the time frequency domain features of PCG's IMF components which were extracted from the EMD algorithm and energy envelope of the PCG, the S1/S2 components were pinpointed accurately. Meanwhile, a detecting fixed method, which was based on the time domain processing, was proposed to amend the detection results. Finally, to test the performance of the algorithm proposed in this paper, a series of experiments was contrived. The experiments with thirty samples were tested for validating the effectiveness of the new method. Results of test experiments revealed that the accuracy for recognizing S1/S2 components was as high as 99.75%. Comparing the results of the method proposed in this paper with those of traditional algorithm, the detection accuracy was increased by 5.56%. The detection results showed that the algorithm described in this paper was effective and accurate. The work described in this paper will be utilized in the further studying on identity recognition.