Speech processing includes the various techniques such as speech coding, speech synthesis, speech recognition and speaker recognition. In the area of digital signal processing, speech processing has versatile applications so it is still an intensive field of research. Speech processing mostly performs two fundamental operations such as Feature Extraction and Classification. The main criterion for the good speech processing system is the selection of feature extraction technique which plays an important role in the system accuracy. This paper intends to focus on the survey of various feature extraction techniques in speech processing such as Fast Fourier Transforms, Linear Predictive Coding, Mel Frequency Cepstral Coefficients, Discrete Wavelet Transforms, Wavelet Packet Transforms, Hybrid Algorithm DWPD and their applications in speech processing.