In order to investigate the neuroanatomical chronometry of word processing, two experiments using: Event Related Potentials (ERPs) have been performed. The first one was designed to test the effects of orthographic, phonologic, and lexical properties of linguistic items on the presemantic components of ERPs during a passive reading task and massive repetition used to reduce familiarity effect between words and nonwords. In a second study, the level of familiarity was investigated by varying stimulus repetition and frequency in a lexical decision task. Overall results suggest a functional discrimination between orthographic and nonorthographic stimuli begun as early as 170 ms (N170 component) whereas the next components (N230 and N320) were sensitive to the orthographic nature of the stimuli, but also to their lexical/phonologic proprieties. The N320 associated to phonological processing (Bentin et al., 1999) was modulated by word frequency and massive repetition caused its disappearance. This suggests that this component may reflect a nonobligatory phonologic stage of graphemephoneme conversion postulated by the DRC model (Coltheart et al., 2001) or semantic phonologically mediated pathway (Harm and Seidenberg, in press).