The diffusion of ions in the extracellular space of the brain is normally assumed to have negligible effects on extracellular potentials. However, during periods of intense neural activity or in pathological conditions such as spreading depression, concentration gradients in brain tissue can become quite pronounced, and the effects of diffusion on electric potentials cannot be a priori neglected. We here present the theory for computing diffusion potentials, and we evaluate whether diffusion potentials can become “visible” within the frequency range considered in standard LFP recordings.