Static Random Access Memory (SRAM) has long been used for a new technology development vehicle because it is sensitive to process defects due to its high density and minimum feature size. In addition, failure location can be accurately predicted because of the highly structured architecture. Thus, fast and accurate Failure Analysis (FA) of the SRAM failure is crucial for the success of new technology learning and development. It is often quite time consuming to identify defects through conventional physical failure analysis techniques. In this paper, we present an advanced defect identification methodology for SRAM bitcell failures with fast speed and high accuracy based on the bitcell transistor analog characteristics from special design for test (DFT) features, Direct Bitcell Access (DBA). This technique has the advantage to shorten FA throughput time due to a time efficient test method and an intuitive failure analysis method based on Electrical Failure Analysis (EFA) without destructive analysis. In addition, all the defects in a wafer can be analyzed and improved simultaneously utilizing the proposed defect identification methodology. Some successful case studies are also discussed to demonstrate the efficiency of the proposed defect identification methodology.