Promised rewards are often used in education to stimulate learning behaviour. The present study tested whether a reward prospect affects semantic processing and recall of learned materials. Thirty-nine females participated in an electroencephalogram (EEG) task measuring semantic processing using the N400 effect. After that, they completed a cued recall test of the task materials. Before the EEG task, half of the participants (n = 20) were told that financial compensation would increase with each correct answer (reward prospect condition). The other half (n = 19) were told that financial compensation was fixed (control condition). Participants in the reward prospect condition showed an N400 effect that was more spread over the (left) frontal...