A novel generalized feature extraction method based on the expansion matching (EXM) method and on the Karhunen-Loeve transform (KLT) is presented. The method provides an efficient way to locate complex features of interest like corners and junctions with reduced number of filtering operations. The EXM method is used to design optimal detectors for a set of model elementary features. The KL representation of these model EXM detectors is used to filter the image and detect candidate interest points from the energy peaks of the eigen coefficients. The KL coefficients at these candidate points are then used to efficiently reconstruct the response and differentiate real junctions and corners from arbitrary features in the image. The method is robust to additive noise and is able to successfully extract, classify, and find the myriad compositions of corner and junction features formed by combinations of two or more edges or lines. This method differs from previous works in several aspects. First, it treats the features not as distinct entities, but as combinations of elementary features. Second, it employs an optimal set of elementary feature detectors based on the EM approach. Third, the method incorporates a significant reduction in computational complexity by representing a large set of EXM filters by a relatively small number of eigen filters derived by the KL transform of the basic EXM filter set. This is a novel application of the KL transform, which is usually employed to represent signals and not impulse responses as in our present work.