We present a novel signal-processing algorithm to extract the posterior tibial somatosensory evoked potentials (tSSEP) using a minimum number of trials. We analyze the proposed algorithm and compare it with the clinically used conventional signal averaging method for 12 surgical procedures. The tSSEP trials are continuously fed to our processing algorithm that displays the extracted SSEP after processing 12 successive unrejected sweeps. A unique filtering process employing time, frequency and eigen systems, in that order, was used to extract the SSEP from this set of 12 trials. The algorithm then detects, marks and records the P37 and N45 peaks using the first order differentials obtained through Walsh transformation. The monitoring using the algorithm was successful and proved conclusive to the clinical information through the different surgical procedures. Higher accuracy and faster execution time in determining the SSEP signals provides for a much improved and effective neurophysiological monitoring process.