The identification of objects in binary images is a fundamental task in image analysis and pattern recognition tasks. The Euler number of a binary image is an important topological measure which is used as a feature in image analysis. In this paper, a very fast algorithm for the detection and localization of the objects and the computation of the Euler number of a binary image is proposed. The proposed algorithm operates in one scan of the image and is based on the Image Block Representation (IBR) scheme. The proposed algorithm is more efficient than conventional pixel based algorithms in terms of execution speed and representation of the extracted information.