In this study, observing football players under simulated playing conditions to measure event-related potentials (ERPs, i.e. P300), electromyography reaction time (EMG-RT), and reaction time (RT), we investigated neural correlates of information processing during selective reaction challenges. A high performance group included 13 collegiate football players who had previously won the All Japan University Championships. A low performance group included 13 collegiate football players who never competed at the national level or played in prefectural or regional competitions. We conducted a 4 vs. 2 ball possession task (i.e. a Go/NoGo task) under simulated playing conditions that required situational assessment. Our results showed that the high-performance group had a significantly higher correct response rate than did the low-performance group in 4 vs. 2 ball possession tasks. Moreover, the EMG-RT and RT of the high-performance group were significantly shorter than that of the low-performance group. Furthermore, the P100 and P300 latencies of the high-performance group was significantly shorter than those of the low-performance group. These findings indicated that high-performance football players could perform the task-relevant stages of information processing (such as visual information processing, stimulus evaluation, and motor response output) in a short time. There was no correlation between EMG-RT and P100 (Go, NoGo stimulation), indicating that initial visual information processing did not contribute to the execution of the final motor response. There was no correlation between EMG-RT and Go P300 latency, whereas a significant correlation with NoGo P300 latency was shown. This suggested that the stimulus evaluation system by NoGo stimuli (response inhibition) is strongly involved in the final motor output reaction.