The purpose of this study was to investigate the influence of the hedonic properties of odors and the attention of subjects on components of the olfactory event-related potentials (OERP). The subjects were seven healthy male students. Two odors (orange and eugenol) of different hedonic properties were presented to the subjects via a constant-flow olfactometer during an oddball paradigm under ignore and attend conditions, and the OERP were then established. The latencies of the OERP were not affected by the qualitatively different odors, whereas the amplitude of late positive component (P3) during the presentation of orange was significantly larger than that during the presentation of eugenol. On the other hand, the allocation of a subject's attention led to a decrease in the latency and to an increase in the amplitude of P3. Moreover, the amplitude of P3 increased significantly when the pleasant odor (orange) in the rare stimulus was presented under the attend condition. These results suggested that hedonic property, distribution of attention, and the interaction between these factors may influence the OERP components.