The software GPS receivers based on the SDR technology provide the ability to easily adapt the other signal processing algorithms without changing or modifying the hardware of the GPS receiver. However, it is difficult to implement the software GPS receivers using a commercial processor because of the heavy computational burden for processing the GPS signals in real-time. This paper proposes an efficient GPS signal processing scheme to reduce the computational burden for processing the GPS signals in the software GPS receiver, which uses a fundamental notion compressing the replica signals and the encoded look-up table method to generate correlation values between GPS signals and replica signals. In this paper, it is explained that the computational burden of the proposed scheme is much smaller than that of the typical GPS signal processing scheme. Finally, the processing time of the proposed scheme is compared with that of the typical scheme, and the improvement in the aspect of the computational burden is also shown.