In the present paper, an electroencephalography (EEG)-based real-time dynamic neuroimaging system, which was recently developed by the authors, is introduced and its potential applications are presented. The real-time system could monitor spatiotemporal changes of cortical rhythmic activity on a subject's cortical surface, not on the subject's scalp surface, with a high temporal resolution. The developed system can be potentially applied to various practical applications such as neurofeedback based motor imagery training, real-time diagnosis of psychiatric brain diseases, online monitoring of EEG experiments, and neurorehabilitation, of which some examples are presented herein.