Anaphora is an essential means of maintaining textual coherence, the phenomenon of replacing one word or phrase in the preceding part of a discourse with another. At least two crucial stages are involved in anaphor processing: bonding and resolution. The links between the anaphor and potential antecedents are established in the former stage, which would be evaluated and integrated into the latter stage. We reviewed relevant event-related potential (ERP) studies that examined the time course of anaphor processing and neural oscillation studies that explored energy changes in alpha, theta, and gamma frequency bands, which were associated with attention, working memory retrieval, and integration, respectively. The existing neuroimaging studies revealed the involvement of language processing networks and the Theory of Mind (ToM). Further research should explore the neural correlates and the effects of potential factors on anaphor processing, which could help gain a more comprehensive picture from multiple perspectives.