In the present study we examined whether olfactory information process
ing depends on the phase of the menstrual cycle. Five female subjects
were investigated during: three phases (follicular, ovulatory, luteal)
of their menstrual cycle. In each session chemosensory (olfactory) ev
ent-related potentials (CSERP) were recorded and olfactory thresholds
and the hedonic lone of the test stimulus (citral) were determined. Th
reshold values were correlated with the salivary cortisol level. The r
esults show that olfactory perception changes during the menstrual cyc
le. After the first stimulus presentations in a recording session, odo
rs were perceived as more complex or novel during the ovulatory period
(enhanced amplitude of P3-1). With continued stimulation, odor proces
sing became faster (reduced latency of N1, P2 and P3-2) around ovulati
on and slower during the follicular phase, Moreover, odors were descri
bed more differentially during the ovulatory period. Olfactory sensiti
vity was correlated positively with the peripheral cortisol level.