Mitral Valve Prolapse (MVP) is a common condition among people, which is often benign and does not need any serious treatment. However, this doesn’t mean that MVP can’t cause any problems. In malignant conditions, MVP can cause mitral failure and also heart failure. Early diagnosis of MVP is significantly important to control and reduce its complications. Since the phonocardiogram signal provides useful information about heart valves function, it can be used for MVP detection. To detect MVP, the signal was denoised and segmented into heart cycles and constant three-second pieces in the first and second approaches, respectively. Next, based on the Fractional Fourier Transform (FrFT), the desired features were extracted. Then, the extracted features were windowed by a Moving Logarithmic Median Window (MLMW) and optimum features were selected using Mahalanobis, Bhattacharyya, Canberra, and Minkowski distance criteria. Finally, using the selected features, classification was performed by using the K-Nearest Neighbor (KNN) and the Suppor Vector Machine (SVM) classifiers to find out whether a segment is prolapsed. The best results of the experiment on the collected database contain 15 prolapsed and 6 non-prolapsed subjects using the A-test method show 96.25 ± 2.43 accuracy, 98.5 ± 3.37 sensitivity, 94.0 ± 5.16 specificity, 96.0 ± 3.44 precision, 92.5 ± 4.86 kappa, and 96.6 ± 2.34 f-score with the SVM classifier.