The use of event-related potentials (ERPS) as a technique in the study of word decoding and semantic processing in the cerebral cortex was investigated. Ten right-handed boys, aged between nine and eleven, with adequate school performance were studied. Visual ERPS were obtained using four derivations: occipital (O1-O2) and parietal (P3-P4). Four stimuli were presented: a frequently used noun written in capitals; the same noun in handwriting; the pictorial representation of this noun (drawing); and a pattern consisting of a checkerboard (25 squares). The data were analyzed using multivariate procedures. A Principal Component Analysis with varimax rotation of the solution was applied. Concepts about reading contributed by cognitive psychology, neuropsychology and neurophysiological research are reviewed, and a hypothetical model of the neuronal bases underlying the act of reading is presented. This model emphasizes the complex, dynamic interplay of the neural structures involved and points to the differences which probably exist between beginning and fluent readers. The results are discussed in accordance with the proposed model.