Evoked potentials (EPs) are a relatively noninvasive method to assess the integrity of sensory pathways. As the neural generators for most of the components are relatively well worked out, EPs have been used to understand the changes occurring during meditation. Event-related potentials (ERPs) yield useful information about the response to tasks, usually assessing attention. A brief review of the literature yielded eleven studies on EPs and seventeen on ERPs from 1978 to 2014. The EP studies covered short, mid, and long latency EPs, using both auditory and visual modalities. ERP studies reported the effects of meditation on tasks such as the auditory oddball paradigm, the attentional blink task, mismatched negativity, and affective picture viewing among others. Both EP and ERPs were recorded in several meditations detailed in the review. Maximum changes occurred in mid latency (auditory) EPs suggesting that maximum changes occur in the corresponding neural generators in the thalamus, thalamic radiations, and primary auditory cortical areas. ERP studies showed meditation can increase attention and enhance efficiency of brain resource allocation with greater emotional control.