In this paper, a fast correlation matching method in frequency domain was presented to extract the vehicle speed from a single QuickBird (QB) satellite image. Suppose the vehicles had been extracted from 0.6m resolution panchromatic image, we transformed the panchromatic and multispectral images into frequency domain and found the maximum correlation position to determine the exact coordinates of vehicles. Then the speed of moving vehicles were calculated using the shift between the two coordinates and the time gap between the two images. The novelty of this work is that the time consumption can be significantly reduced compared with the conventional area correlation matching method. This method makes it feasible to use satellite images for traffic statistics in large scale of road network.