Subjects viewed letters presented at 2 sec intervals and prepared a fast button press whenever an "O" appeared. If the next letter was an "X" the button press was executed (Go signal), but if the letter was a non-X character (T, H, Z) suppression of the response was required (No-Go cue). No-Go signals elicited a P300-like wave that was larger at central and frontal scalp sites contralateral to the prepared movement, compared to P300s elicited by Go cues which were symmetric about the sagittal midline and dominant at parietal sites. Subtraction of preparatory CNVs from the No-Go P300 did not remove differences in scalp topography, or reduce the amplitude of the No-Go P300 to that seen following control letters that required perceptual identification but did not call for suppression of prepared motor responses. Principal components analysis identified a middle positive wave following X-alone control stimuli whose topography resembled the No-Go P300. These findings suggest that the source of augmented No-Go P300s is a generator involved with sensorimotor inhibition. We discuss the mechanism of P300 waves and evidence linking these waves with inhibition in other task arrangements.