Atomic recognition of the Exudates (EXs), the major symbol of diabetic retinopathy is essential for automated retinal images analysis. In this article, we proposed a novel machine learning technique for early detection and classification of EXs in color fundus images. The major challenge observed in the classification technique is the selection of optimal features to reduce computational time and space complexity and to provide a high degree of classification accuracy. To address these challenges, this article proposed an evolutionary algorithm based solution for optimal feature selection, which accelerates the classification process and reduces computational complexity. Similarly, three well-known classifiers that is, Naïve Bayes classifier, Support Vector Machine, and Artificial Neural Network are used for the classification of EXs. Moreover, an ensemble-based classifier is used for the selection of best classifier on the basis of majority voting technique. Experiments are performed on three well-known benchmark datasets and a real dataset developed at local Hospital. It has been observed that the proposed technique achieved an accuracy of 98% in the detection and classification of EXs in color fundus images.