There no way to save or extract the images from any MS Office documents like Word, Excel or Powerpoint. We have to manually copy image and paste it in other image editors like Paint. This might be a tedious task if the document has tens of images.
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Office Image Extraction Wizard is a free Windows based application, which allows you to extract all the images in any MS Office document. The application has a wizard like interface where you can pick the document for extracting the images and also set the output folder where you want the images to be extracted.

This app also supports extraction of images from Open Document formats as well as comic book archives (.cbz) and e-Books (.epub). Overall it supports 40+ common file formats.
Images are extracted in their original format, with no image processing or re-compression being performed, so quality of image is not compromised during the extraction.
