Abstract: The object of this research is development of memory assessment system, using Event Related Potentials. Our approach is using ERPs recorded on Fz, Cz and Pz electrodes. Subjects made old/new recognition judgments on new unstudied unmeaning pictures and old pictures which had been presented at study phase. Features related with memory activity in time-frequency domain were used to achieve this purpose. So that discrete wavelet transform coefficients of Event Related Potentials computed, then using mean, variance and power of specific frequency bands, 36 features on 3 channels were obtained entirely. After appropriate feature selection on single and three channels Linear discriminant analysis was done to get classification results using selected features. Finally we discriminated groups with 89.3% accuracy in test group by combination of three channels features.