Selection of best fit probability distribution model to the wind data sets is very important forrnreducing uncertainties in the extreme wind speed modeling at a given site. This study presentsrnextreme wind speed analyses by using two approaches: The Block Maxima and Peaks OverrnThreshold, and compare of the results of both methods for the data from Addis Ababa; Bolernwind speed recording station. Wind data collected include wind speed and wind direction,rnrecorded for 63 years (1954-2016) with three-hoursâ€™ time interval. Seven Two-parameter, fivernThree-parameter, four Four-parameter, and Five-parameter Wakeby distributions are fitted tornthe Block Maximum data series, and Generalized Pareto distribution is fitted to the PeaksrnOver Threshold series. Three parameter estimation techniques were considered for estimatingrnparameters involved with these distributions namely, Maximum Likelihood, L-moments, andrnMethods of Moments. The best fit models to the data are selected by examining ProbabilityProbabilityrnPlotsrnandrnfourrngoodness-of-fitrnstatistics:rnRootrnMeanrnSquarernError,rnCoefficientrnofrnrnDetermination,rnKolmogorov-Smirnov,rnandrnCramer-VonMises,rnatrn95rnpercentrnconfidencernlevel.rnrnThernrnL-Moments estimation method has performed better for calculating the parameters ofrnmost of the distributions while the Method of Moments is the preferred method for obtainingrnthe parameters of the JohnsonSB and Kumaraswamy distributions. The results showed thatrnthe JohnsonSB distribution gives a best fit to the block maximum series. The Peaks OverrnThreshold method with 2 peaks per year gave better results than the Block Maximum method;rnas a result, Peaks Over Threshold method is recommended for design. Wind direction analysisrnalong with a wind rose chart for the study area is also provided. Analysis showed that most ofrnthe winds come from the East and East-Southeast direction with the maximum magnitude ofrn3.60- 5.70 m/s. Finally, the selected distribution model is used for forecasting the extremernwind speeds for return periods of 5, 10, 20, 50 and 100 years.