This study investigated the impact of motivational valence on No-go P3 and N2 by incorporating monetary rewards based on response outcomes. We also investigated how personality differences in terms of the behavioral inhibition system (BIS) and behavioral approach system (BAS) influenced No-go N2 and No-go P3. Twenty-eight participants performed Go/No-go tasks (80 % Go and 20 % No-go) under two conditions. In the reward condition, each correct-rejection trial for the No-go stimulus was rewarded with 10 yen (∼6 cents), whereas in the neutral condition, neither monetary rewards nor punishments were contingent on response outcomes. Individual responsiveness to punishment and rewards was evaluated using the BIS and BAS scales. The error rate was significantly lower in the reward condition than in the neutral condition. P3 amplitude for correct-rejection trials (i.e., preceding erroneous muscular activity on the wrong hand) was larger in the reward condition than in the neutral condition; however, N2 amplitudes did not differ between the two conditions. These results suggest that monetary rewards may enhance motor inhibition control. Individuals with a higher BIS score exhibited a larger No-go N2 for correct-rejection in the neutral condition. We conclude that No-go N2 amplitude is modulated by avoidance motivation.