In this thesis lateralization of olfactory functions was investigated by both behavioral and electrophysiological assessment, the latter with the olfactory event-related potential (OERP) technique. The olfactory sense is primarily ipsilateral in that a stimulus that is presented to one nostril is initially processed in the same hemisphere. This makes it possible to observe differences between stimulated nostrils as an indication of hemispheric difference. Study I explored differences in olfactory cognitive functions with respect to side of rhinal stimulation and demonstrated that familiarity ratings are higher at right- compared to left-nostril stimulation. No differences were found in episodic recognition memory or free identification, possibly reflecting inter-hemispheric interactions in higher cognitive functions. Effects of repetition priming were present in odor identification and tended to be more pronounced when tested via left nostril. Study II further investigated the effect of previous exposure in odor identification by a different experimental set-up, and demonstrated effects of repetition priming when tested via left- but not right-nostril stimulation. This finding indicates the importance of reconsidering possible sequential effects in olfactory research. Study III examined methodological aspects of an OERP protocol with respect to stimulus duration, which was used in Study IV. No differences in amplitudes or latencies where found between the stimulus durations of 150, 200 and 250 ms, suggesting the commonly used duration of 200 ms in a standard protocol. Study IV investigated laterality effects in OERPs with respect to side of stimulation and electrode site. The results showed consistent amplitudes and latencies regardless of rhinal side of stimulation. Larger amplitudes were demonstrated on left hemisphere and midline compared to right hemisphere, possibly explained by smaller N1/P2 amplitudes at the right-hemisphere sites at left-nostril stimulation. Apart from a proposed OERP protocol, the findings support the notions of a right-hemisphere predominance in processes related to olfactory perception and indicate, in accordance with other findings, a left-side advantage in conceptual repetition priming.