The Timepix device presents significant potential for X-Ray induced fluorescence (XRF) imaging. However limited energy resolution of this device restrains direct element identification via their radiation patter. Based on theoretical Monte Carlo simulations and measured data a per pixel spectra decomposition method has been proposed. This method consists of two phases - a first phase which determines the response of each pixel to characteristic radiation of individual elements and a second phase with the decomposition of unknown complex spectra to a set of individual elemental spectra. With precise calibration this technique allows us to distinguish area distribution of elements. We are able to recognize elements heavier than potassium (K) i.e. calcium (Ca), scandium (Sc), titanium (Ti) etc. These elements may even have their characteristic radiation lines located in a narrow energetic range like nickel (Ni), copper (Cu) and zinc (Zn). The spatial resolution of images is directly given by the diameter of the pinhole (presently we are working with a 200 um pinhole).