Even though it has been established the neuroprotective effect of estrogen on cognitive functions in postmenopausal women, some discrepancy still exists. Moreover, emerging reports mention that progesterone stimulates reward center and has neuroprotective role on cognitive function, but some contradictory still exists. So this study was aimed to compare cognitive functions between menstruation (low estrogen phase) and postovulatory phase (high progesterone phase) of menstrual cycle (MC) in consenting 34 healthy female volunteers (age 19-37 years). Menstruation-cognitive functions were assessed in between 2-5 days of start of menses and postovulatory-cognitive functions were assessed in between 23-27 days of the MC. Four aspects of cognitive functions were assessed (viz: attentional, perceptual, executive and working memory). Attentional task as visual reaction time (VRT) and Go/No-Go VRT (pattern), perceptual task as fast counting (FC), executive task as Erisken flanker test (EFT) and Stroop test (ST) i.e. color interference reading and, working memory task as remembering picture 2-back were assessed by using cognitivefun.net program. Data were expressed in median and interquartile range (IQR), compared by using Wilcoxon test. Postovulatory phase showed better performance in Go/No-Go VRT average time (422.66 ms, IQR: 391.2 to 450 vs. 465.2 ms, IQR: 425.6 to 504; p=0.003), Go/No-Go VRT combined time (450 ms, IQR: 422 to 457.32 vs. 541.67 ms, IQR: 465.2 to 605; p=0.000), ST percentage accuracy (100% with IQR: 100 to 100 vs. 95.24% with IQR: 90.12 to 100; p=0.000), ST color interference time (1105.3ms, IQR: 1100.3 to 1335.25 vs. 1428ms, IQR: 1346.39 to 1621.25; p=0.001), and FC speed (1081.51 ms, IQR: 902.6 to 1147.18 vs. 1130.6 ms, IQR: 1066.6 to 1209.18; p=0.041) than in menstruation phase. Other cognitive task variables (viz: VRT, EFT, working memory) were comparable between menstruation and postovulatory phase of MC. Some aspects of cognitive function varied across the MC. But these two phases of MC had no effect on working memory. Thus, it can be concluded that postovulatory phase of menstrual cycle improves attentional (pattern recognition), perceptual, and executive function (as assessed by stroop test) of cognition. Probably progesterone, which is higher during postovulatory phase, is responsible to modulate the neurons action in the brain and enhancing the cognition.