Hostility is associated with biases in the perception of emotional facial expressions, such that ambiguous or neutral expressions tend to be perceived as threatening or angry. In this study, the effects of hostility and gender on the perception of angry, neutral, and happy faces and on the oscillatory dynamics of cortical responses elicited by these presentations were investigated using time-frequency decomposition by means of wavelet transforms. Feelings of hostility predisposed subjects to perceive happy and neutral faces as less friendly. This effect was more pronounced in women. In hostile subjects, presentation of emotional facial expressions also evoked stronger posterior synchronization in the theta and diminished desynchronization in the alpha band. This may signify a prevalence of emotional responding over cognitive processing. These effects were also more pronounced in females. Hostile females, but not hostile males, additionally showed a widespread synchronization in the alpha band. This synchronization is tentatively explained as a manifestation of inhibitory control which is present in aggressive females, but not in aggressive males.