Past self-report and cognitive-behavioural studies of the effects of transcranial direct current stimulation (tDCS) targeting the medial prefrontal cortex (mPFC) on semantic self-referential processing (SRP) have yielded mixed results. Meanwhile, electroencephalography (EEG) studies show that alpha oscillation (8-12 Hz) may be involved during both semantic and somatic SRP, although the effect of tDCS on alpha-EEG during SRP remains unknown. The current study assessed the EEG and subjective effects of 2mA tDCS over the mPFC while participants were SRP either on semantic (life roles, e.g., “friend”) or somatic (outer body, e.g., “arms”) self-referential stimuli compared to resting state and an external attention memory task in 52 young adults. Results showed that whereas mPFC-tDCS did not yield significant changes in participants’ mood or experienced attention or pleasantness levels during the SRP task, EEG source analysis indicated, compared to sham stimulation, that tDCS reduced alpha power during somatic but not semantic SRP in the posterior cingulate cortex (PCC), and the frontal, parietal, temporal, and somatosensory cortex, and reduced the functional connectivity between the left inferior parietal lobule and the ventral PCC, but only when mPFC-tDCS was applied at the second while not the first experimental session. Our results suggest that while mPFC-tDCS may be insufficient to alter immediate subjective experience during SRP, mPFC-tDCS may modulate the power and functional connectivity of the brain’s alpha oscillations during somatic SRP. Future research directions are discussed.