The present study investigated the relationships among event-related potentials (ERPs), memory, and schizophrenic symptoms in college students with schizotypal-traits. Scores on the Schizotypal Personality Questionnaire (SPQ) were used to categorize the participants into schizotypal-trait (n = 30) and normal control (n = 37) groups. ERPs were assessed using an auditory oddball paradigm, in which a series of standard tones (1000 Hz) and target tones (1500 Hz) were presented; participants were asked to count the number of presented target tones. The verbal memory and visual memory of the participants were evaluated using the Korean version of the California Verbal Learning Test (K-CVLT) and the Rey-Osterrieth Complex Figure Test (RCFT), respectively. The schizotypal-trait and control groups did not differ in terms of age, educational level, IQ score, accuracy on the auditory oddball task, or performance on the K-CVLT and RCFT measures. However, the schizotypal-trait group exhibited significantly smaller P300 amplitudes than the control group. Additionally, the P300 amplitudes measured at Cz and Pz were negatively correlated with the cognitive-perceptual factor scores on the SPQ. Thus, the present results indicate that reduced P300 amplitudes may represent a biological marker of schizophrenia.