Human body odors (HBOs) are powerful stimuli that can affect emotional, cognitive and behavioral processes. However, the characterization of the physiological response to HBOs is still to be fully investigated. Here, we analyzed the self-assessed emotion perception and the EEG event-related potentials (ERP) on 17 healthy young women during a simultaneous visual-olfactory stimulation. Particularly, we evaluated the effect of happiness and fear HBO on the amplitude of ERP waveforms elicited by neutral face processing. In addition, we evaluated the subjective valence and arousal perception of the presented neutral faces by means of the self-assessment-manikin test. We observed a significant increase in the amplitude of the late positive potential (LPP) for central left sites (i.e., C3) during the administration of HBOs with respect to clean air. On the other hand, we did not observe any significant change in the subjective valence and arousal scores as well as for the early components of the ERP (i.e., P100, N170, Vertex-Positive-Potential). Our preliminary results suggest that fear and happiness HBO can induce a protracted increase in the LPP, and possibly reflect an automatic and sustained engagement with emotionally significant content.