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The dissolved gas-in-oil analysis is a prevailing methodology being extensively utilized to diagnose incipient faults in oil-immersed power transformers. However distinct approaches have been implemented to find out dissolved gas analysis (DGA) results, they may sometimes fail to diagnose precisely. The incipient fault identification accuracy of various artificial intelligence (AI)-based methodology is assorted with change of input parameters. Thus, selection of input variable to an AI model is major research area. In this paper, principle component analysis algorithm using RapidMiner is applied to 360 experimental datasets, imitated in lab to identify most pertinent input variables for incipient fault classification. Thereafter, multi-class Extreme Learning Machine (ELM) technique is implemented to classify the incipient faults of power transformer and its performance is compared with artificial neural network, gene expression programming, fuzzy-logic, and support vector machine. The compared result shows that ELM provides better diagnosis results up to 100% accuracy at proposed input variable in short of time period which is helpful in on-line condition monitoring. [ABSTRACT FROM AUTHOR]