Fear emotion is a typical negative emotion that is commonly present in daily life and significantly influences human behavior. A deeper understanding of the mechanisms underlying negative emotions contributes to the improvement of diagnosing and treating disorders related to negative emotions. However, the neural mechanisms of the brain when faced with fearful emotional stimuli remain unclear. To this end, this study further combined electroencephalogram (EEG) source analysis and cortical brain network construction based on early posterior negativity (EPN) analysis to explore the differences in brain information processing mechanisms under fearful and neutral emotional picture stimuli from a spatiotemporal perspective. The results revealed that neutral emotional stimuli could elicit higher EPN amplitudes compared to fearful stimuli. Further source analysis of EEG data containing EPN components revealed significant differences in brain cortical activation areas between fearful and neutral emotional stimuli. Subsequently, more functional connections were observed in the brain network in the alpha frequency band for fearful emotions compared to neutral emotions. By quantifying brain network properties, we found that the average node degree and average clustering coefficient under fearful emotional stimuli were significantly larger compared to neutral emotions. These results indicate that combining EPN analysis with EEG source component and brain network analysis helps to explore brain functional modulation in the processing of fearful emotions with higher spatiotemporal resolution, providing a new perspective on the neural mechanisms of negative emotions.