The aim of this study was to elucidate the effects of an ischemic stroke on the amplitude and latency of the P300 wave and evaluate their changes over a prospective 1-year follow-up period. We recorded the P300 wave using an auditory oddball paradigm in 60 consecutive brain infarct patients at baseline (i.e., within 4 weeks after the stroke), after 3 months, after 12 months and in 30 healthy control subjects. The P300 latencies in stroke patients were significantly longer and the P300 amplitudes were significantly smaller than those of the control group. The latency of P300 showed a highly significant average improvement 12 months after the stroke compared to the baseline. There was no significant change observed for the P300 amplitude during the same period. The P3 latency is initially more increased in the patients with hemispheric brain infarction but shows a better recovery compared to the patients with brainstem infarction. Also, the results of the P300 latency of patients with the left-sided lesions was significantly longer compared to the patients with right-sided lesions on the beginning of the study but not 3 and 12 months after the stroke. The results of our study show the importance of P300 event-related potentials in the detection and follow-up of cognitive changes after ischemic stroke.