The well-known psychoactive drug widely used in the daily clinical praxis, the piracetam has many therapeutical indications. The drug is extensively applied in the therapy of ischaemic stroke, aphasy as well as of dementias of several origins and age-depending cognitive disturbances. One of the most important effect of piracetam is the positive effect to the cognitive functions. In this publication the author reviews the most important studies, where significant effects of piracetam (chronic or single-dose treatment) were verified by means of electrophysiological methods. These studies proved objectively the positive psychoactive and cognitive effects of the drug, supporting the therapeutical indication of piracetam in such cases, where cognitive deficits are present.