Hyperspectral images have shown a great potential for the applications in resource management, agriculture, mineral exploration and environmental monitoring. However, due to the large volume of data, processing of hyperspectral images faces some difficulties. This paper introduces the development of an image processing tool (HYVIEW) that is particularly designed for handling hyperspectral image data. Current version of HYVIEW is dealing with efficient algorithms for displaying hyperspectral images, selecting bands to create color composites, and atmospheric correction. Three band-selection schemes for producing color composites are available based on three most popular indexes of OIF, SI and CI. HYVIEW can effectively demonstrate the differences in the results of the three schemes. For the atmospheric correction, HYVIEW utilizes a pre-calculated LUT by which the complex process of correcting atmospheric effects can be performed fast and efficiently.