In the present scenario, Alzheimer’s Disease (AD) is one of the incurable neuro-degenerative disorders, which accounts for nearly 60% to 70% of dementia cases. Currently, several machine-learning approaches and neuroimaging modalities are utilized for diagnosing AD. Among the available neuroimaging modalities, functional Magnetic Resonance Imaging (fMRI) is extensively utilized for studying brain activities related to AD. However, analyzing complex brain structures in fMRI is a time-consuming and complex task; so, a novel automated model was proposed in this manuscript for early diagnosis of AD using fMRI images. Initially, the fMRI images are acquired from an online dataset: Alzheimer’s Disease Neuroimaging Initiative (ADNI). Further, the quality of the acquired fMRI images was improved by implementing a normalization technique. Then, the Segmentation by Aggregating Superpixels (SAS) method was implemented for segmenting the brain regions (AD, Normal Controls (NC), Mild Cognitive Impairment (MCI), Early Mild Cognitive Impairment (EMCI), Late Mild Cognitive Impairment (LMCI), and Significant Memory Concern (SMC)) from the denoised fMRI images. From the segmented brain regions, feature vectors were extracted by employing Gabor and Gray Level Co-Occurrence Matrix (GLCM) techniques. The obtained feature vectors were dimensionally reduced by implementing Honey Badger Optimization Algorithm (HBOA) and fed to the Multi-Layer Perceptron (MLP) model for classifying the fMRI images as AD, NC, MCI, EMCI, LMCI, and SMC. The extensive investigation indicated that the presented model attained 99.44% of classification accuracy, 88.90% of Dice Similarity Coefficient (DSC), 90.82% of Jaccard Coefficient (JC), and 88.43% of Hausdorff Distance (HD). The attained results are better compared with the conventional segmentation and classification models.