The present research intended first to confirm psychophysiological and cortical responses to valence- and arousal-manipulated stimuli and second to show how the BIS and BAS (Behavioural Inhibition and Activation System) personality characteristics correlated with these psychophysiological and cortical responses. Multiple measures were recorded, such as psychophysiological (skin conductance response, heart rate, and electromyography) and ERPs (event-related potentials) responses, during viewing IAPS figures, that varied in terms of pleasantness (appetitive vs. aversive) and arousing power (high vs. low intensity). Autonomic variables and two ERP positive deflections (P3 and LPP ERP effects) were found to be modulated by valence and arousal rating, with an increased response for high arousing and negative or positive stimuli in comparison with low arousing and neutral stimuli. Moreover, high BAS subjects were more responsive to positive than negative emotions, whereas high BIS subjects responded in greater measure to negative and arousing emotions. Findings were discussed in light of biphasic model of emotion comprehension.