Event-related potential correlates of positive priming (PP) and negative priming (NP) were investigated in order to further elucidate the cognitive mechanisms involved. Thirty-six participants performed both an identity- and a location-based priming task. Repeating the target stimulus/location from the immediately preceding display produced behavioral PP. With localization, but not with identification, behavioral NP was observed when the target stimulus/location matched the preceding distractor stimulus/location. Smaller P300 amplitude accompanied identity-based PP, suggesting persisting target-specific activation. The lateralized readiness potential, an index of correct/incorrect response activation, indicated persisting central motor activation as another source of PP. Both location-based PP and NP were accompanied by reduced P1/N1 and P300 amplitudes, pointing to the involvement of inhibition of return in location-based priming. The results support the view that multiple brain processes underlie behavioral priming.