Little is known about the interplay between the language of operation and gender stereotype processing. In this study, Polish–English (L1–L2) male and female bilinguals made meaningfulness judgments on L1 and L2 stereotypically congruent and incongruent as well as semantically correct and incorrect sentences. The results showed gender- and language-dependent modulations by sentence type within the N400 and Late Positive Complex (LPC) time frames. In females, semantically correct sentences converged with stereotypically congruent and incongruent conditions in both languages, indicating a deep-rooted internalization of gender stereotype-laden content. Conversely, males displayed a heightened gender-stereotypical bias only in L1. In L2, they exhibited a reduced sensitivity to gender stereotypes, whereby semantically incorrect sentences converged with both stereotypically congruent and incongruent conditions in the N400 time window and with stereotypically incongruent sentences in the LPC time frame. Altogether, the study extends the foreign language effect to the context of bilingual gender stereotype processing.