Although investigations of memory and the dynamics of ERP components and neural oscillations as assessed through EEG have been well utilized, little research into the volitional nature of suppression over memory retrieval have used these methods. Oscillation analyses conducted on the Think/No-Think (TNT) task and volitional suppression of retrieval are of interest to broaden our knowledge of neural oscillations associated not only during successful memory retrieval but also when retrieval is unwanted or suppressed. In the current study, we measured EEG during a TNT task and performed ERP and EEG spectral power band analyses. ERP results replicated other researchers' observations of increases in 500–800 msec parietal effects for items where retrieval was instructed to be elaborated compared with being suppressed. Furthermore, EEG analyses indicated increased alpha (8–12 Hz) and theta (3–8 Hz) oscillations across parietal electrodes for items that were instructed to be suppressed versus those to be elaborated. Additionally, during the second half of the experiment (after repeated attempts at control), increases in theta oscillations were found across both frontal and parietal electrodes for items that were instructed to be suppressed and that were ultimately forgotten versus those ultimately remembered. Increased alpha power for items that were instructed to be suppressed versus elaborated may indicate reductions of retrieval attempts or lack of retrieval success. Increased theta power for items that were instructed to be suppressed versus elaborated may indicate increased or prolonged cognitive control to monitor retrieval events.