Background: Stress is known to increase the activity of the hypothalamic adrenal axis. Some researchers were unable to find an effect of stress on memory retrieval in females. Quantitative electroencephalogram (qEEG) provides an objective assessment of the electrical activity of the brain via many techniques such as power spectral analysis.Aim: Assessment of the effect of examination stress on brain oscillations during delayed memory retrieval in medical college female students during the luteal phase.Methods: Prospective (longitudinal) study, applied on 11 healthy female students. qEEG analysis was done using the relative power (RP) and the peak power frequency (PPF) during memory tasks. Serum cortisol was analyzed as a measure for stress. Serum estrogen and progesterone were assessed to validate the phase of the menstrual cycle. All hormonal analyses were done by enzyme linked immunosorbent assay (ELISA) technique. The procedures were applied once during examination periods and another during the non- examination period in a within-subject design.Results: quantitative analysis of EEG revealed insignificant effects of stress on brain oscillations during the luteal phase regarding the mean relative power in all frequency bands (delta “δ”; P- value: 0.38 and 0.41, theta “θ”; P- value: 0.26 and 0.87, alpha “α”; P- value: 0.69 and 0.85 and beta “β”; P- value: 0.91 and 0.74 during the word and photo recognition memory tasks; respectively). Regarding the peak power frequency (PPF) EEG analysis; delta and beta bands were absent in the sites of C3, C4 and O2 electrodes during both the word and photo recognition tasks and appeared only in 18.2 % of the females on O1 electrode during the stress period only during both word and photo recognition tasks. There were no significant differences for (θ and α) EEG bands during the word and photo- recognition tasks over the central (C3 and C4) and occipital (O1 and O2) sites in stress compared to non-stress periods (P- values were: C3: 0.37 and 0.55, C4: 0.33 and 0.11, O1: 0.13 and 0.13 and O2: 0.9 and 0.29 during the word and photo recognition memory tasks; respectively). Conclusion: gonadal steroids have no significant effects on brain oscillations during both resting and stress conditions.