Software component selection is the most important part of component based software development. A large amount of time is invested in searching and selecting the most appropriate component from component repository. Different methods are used to select components quickly and efficiently. In the proposed method we have used part of off the shelf option and fuzzy logic methodology for components selection. The proposed methodology incorporates several important factors such as efficiency, reusability, portability, functionality, security, testability and maintenance. The methodology is illustrated and evaluated using hypothetical case study.