Multi-channel EEG data are usually necessary for spatial pattern identification in motor imagery (MI)-based brain computer interfaces (BCIs). To some extent, signals from some channels containing redundant information and noise may degrade BCI performance. We assume that the channels related to MI should contain common information when participants are executing the MI tasks. Based on this hypothesis, a correlation-based channel selection (CCS) method is proposed to select the channels that contained more correlated information in this study. The aim is to improve the classification performance of MI-based BCIs. Furthermore, a novel regularized common spatial pattern (RCSP) method is used to extract effective features. Finally, a support vector machine (SVM) classifier with the Radial Basis Function (RBF) kernel is trained to accurately identify the MI tasks. An experimental study is implemented on three public EEG datasets (BCI competition IV dataset 1, BCI competition III dataset IVa and BCI competition III dataset IIIa) to validate the effectiveness of the proposed methods. The results show that the CCS algorithm obtained superior classification accuracy (78% versus 56.4% for dataset1, 86.6% versus 76.5% for dataset 2 and 91.3% versus 85.1% for dataset 3) compared to the algorithm using all channels (AC), when CSP is used to extract the features. Furthermore, RCSP could further improve the classification accuracy (81.6% for dataset1, 87.4% for dataset2 and 91.9% for dataset 3), when CCS is used to select the channels.