The prospect of gaining money is an incentive widely at play in the real world. Such monetary motivation might have particularly strong influence when the cognitive system is challenged, such as when needing to process conflicting stimulus inputs. Here, we employed manipulations of reward-prospect and attentional-preparation levels in a cued-Stroop stimulus conflict task, along with the high temporal resolution of electrical brain recordings, to provide insight into the mechanisms by which reward-prospect and attention interact and modulate cognitive task performance. In this task, the cue indicated whether or not the participant needed to prepare for an upcoming Stroop stimulus and, if so, whether there was the potential for monetary reward (dependent on performance on that trial). Both cued attention and cued reward-prospect enhanced preparatory neural activity, as reflected by increases in the hallmark attention-related negative-polarity ERP slow wave (contingent negative variation [CNV]) and reductions in oscillatory Alpha activity, which was followed by enhanced processing of the subsequent Stroop stimulus. In addition, similar modulations of preparatory neural activity (larger CNVs and reduced Alpha) predicted shorter versus longer response times (RTs) to the subsequent target stimulus, consistent with such modulations reflecting trial-to-trial variations in attention. Particularly striking were the individual differences in the utilization of reward-prospect information. In particular, the size of the reward effects on the preparatory neural activity correlated across participants with the degree to which reward-prospect both facilitated overall task performance (shorter RTs) and reduced conflict-related behavioral interference. Thus, the prospect of reward appears to recruit attentional preparation circuits to enhance processing of task-relevant target information.