A new algorithm for the variational quantum Monte Carlo (VMC) is proposed. This algorithm takesthe internal structure of a local energy as starting point, and directly reduces its fluctuation, making the variance decrease to the minimum. An analytical expression of the local energy is presented. The principle of variance minimization for the VMC is deduced, and the steps of variance minimization are established. This new algorithm was used to compute the energies of the ground states for molecules H2, LiH, Li2 and H2O. The Calculated results show that this novel algorithm is superior to the usual VMC in both accuracy and statistical error, with but very little increase in computational cost.