This paper proposes a new approach of band selection for classifying multiple objects in hyperspectral images. Different from traditional algorithms, we construct a semisupervised pair-wise band selection (PWBS) framework for this task, in which an individual band selection process is performed only for each pair of classes. First, the statistical parameters for spectral features of each class, including mean vectors and covariance matrices, are estimated by an expectation maximization approach in a semisupervised learning setting, where both labeled and unlabeled samples are employed for better performance. For each pair of classes, based on the estimated statistical parameters, Bhattacharyya distances between the two classes are calculated to evaluate all possible subsets of bands for classification. Second, as our proposed semisupervised framework, the PWBS followed by a binary classifier can be embedded into the semisupervised expectation maximization process to obtain posterior probabilities of samples on the selected bands. Finally, to evaluate the selected bands, all of the binary decisions obtained with multiple binary classifiers are finally fused together. Comparative experimental results demonstrate the validity of our proposed algorithm. The experimental results also prove that our band selection algorithm can perform well when the training set is very small.