Stimulus-preceding negativity (SPN) was recorded to investigate the effect of positive and negative emotion on the SPN preceding feedback stimuli. In the time-estimation task in which an acoustic stimulus was presented 3 s after a voluntary movement, (1) the negative valence (aversive band noise and pure tone) and (2) the positive valence (reward and no-reward) of feedback stimuli were manipulated. During noise conditions, participants received the band noise as a feedback stimulus except when their time estimations were accurate. They received a monetary reward for accurate time estimations under the reward conditions. The prefeedback SPN was larger under reward than no-reward conditions. In addition, the prefeedback SPN in the noise condition was larger compared with the pure tone condition. Our results appear to suggest that emotional anticipation is important in eliciting the prefeedback SPN.