The target recognition performance of steady-state visual evoked potential (SSVEP)-based brain-computer interfaces can be significantly improved with a training-based approach. However, the training procedure is time consuming and often causes fatigue. Consequently, the number of training data should be limited, which may reduce the classification performance. Thus, how to improve classification accuracy without increasing the training time is crucial to SSVEP-based BCI system. This study proposes a transfer-related component analysis (TransRCA) method for addressing the above issue. In this method, the SSVEP-related components are extracted from a small number of training data of the current individual and combined with those extracted from a large number of existing training data of other individuals. The TransRCA method maximizes not only the inter-trial covariances between the source and target subjects, but also the correlation between the reference signals and SSVEP signals from the source and target subjects. The proposed method was validated on the SSVEP public Benchmark and BETA datasets, and the classification accuracy and information transmission rate of the ensemble version of the proposed TransRCA method were compared with those of the state-of-the-art eCCA, eTRCA, ttCCA, LSTeTRCA, and eIISMC methods on both datasets. The comparison results indicate that the proposed method provides a superior performance compared with these state-of-the-art methods, and thus has high potential for the development of a SSVEP-based brain-computer interface system with high classification performance that only uses a small number of training data.