Substrate with integrated microelectrode arrays (MEAs) provides an alternative electrophysiological method. With MEAS, one can measure the impedance and elicit electrical stimulation from multiple sites of MEAs to determine the electrophysiological conditions of cells. The aims of this research were to construct an impedance and action potential measurement system for neurons cultured on MEAs for observing the electrophysiological signal transmission in neuronal network during glucose and oxygen deprivation (OGD). An extracellular stimulator producing the biphasic micro-current pulse for neuron stimulation was built in this study. From the time-course recording of impedance, OGD condition effectively induced damage in neurons in vitro. It is known that the results of cell stimulation are affected by electrode impedance, so does the result of neuron cells covered on the electrode can measure the sealing resistance. For extracellular stimulation study, cortical neuronal activity was recorded and the suitable stimulation window was determined. However, the stimulation results were affected by electrode impedance as well as sealing impedance resulting from neuron cells covering the electrode. Further development of surface modification for cultured neuron network should provide a better way for in vitro impedance and electrophysiological measurements.