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In this paper, we investigate the energy efficient relay selection scheme for two-way relay network. Two optimal joint relay selection and power minimization schemes are studied. One approach is to minimize the total transmit power, including the relay power and the transceiver power, subject to the signal to noise ratio (SNR) requirements on the two transceiver. And the other focuses on relay power minimization. Closed-form solutions are obtained and only few parameters need to be broadcast to all relays. Based on the closed-form solution, a new relay selection criterion is proposed, which simply relies on the relay channel coefficients. Simulation results are presented to show the merits of the proposed scheme.