A comprehensive understanding of human memory requires cognitive and neural descriptions of memory processes along with a conception of how memory processing drives behavioral responses and subjective experiences. One serious challenge to this endeavor is that an individual memory process is typically operative within a mix of other contemporaneous memory processes. This challenge is particularly disquieting in the context of implicit memory, which, unlike explicit memory, transpires without the subject necessarily being aware of memory retrieval. Neural correlates of implicit memory and neural correlates of explicit memory are often investigated in different experiments using very different memory tests and procedures. This strategy poses difficulties for elucidating the interactions between the two types of memory process that may result in explicit remembering, and for determining the extent to which certain neural processing events uniquely contribute to only one type of memory. We review recent studies that have succeeded in separately assessing neural correlates of both implicit memory and explicit memory within the same paradigm using event-related brain potentials (ERPs) and functional magnetic resonance imaging (fMRI), with an emphasis on studies from our laboratory. The strategies we describe provide a methodological framework for achieving valid assessments of memory processing, and the findings support an emerging conceptualization of the distinct neurocognitive events responsible for implicit and explicit memory.