In order to investigate whether there is automatic emotion regulation (AER) in a cued Go/Nogo task and whether there is the positive effect in AER, the present study used event-related potentials (ERPs) technique to study the aging effect of AER during the judgment of the gender of emotional faces in an emotional cued Go/Nogo task. There were 12 right-handed older adults (6 females) recruited from an elderly home and 12 right-handed younger adults (6 females) recruited from a university that participated in this study. Participants were asked to discriminate the gender of a happy, neutral, or sad face presented at the center of the computer screen. These emotional faces were selected from IAPS (International Affective Picture System, IAPS). The older and the younger groups’ automatic processing of happy, neutral and sad faces were recorded. Based on previous studies, the N2 and P3 components at subset of sites including frontal (F3, FZ, F4), frontal-central (FC3, FCZ, FC4) and central (C3, CZ, C4) electrode sites were assessed. The peak amplitudes and latencies were measured automatically between 250ms and 350ms and between 350ms and 700ms for the N2 and P3, respectively. For each stimulus type, i.e., Go and Nogo trials, using repeated ANOVA to analyzed these measures, with Group (younger and older adults) as a between-subjects variable and Emotional type (happy, neutral and sad faces) as a within-subjects variable. Behavioral results showed that the interaction of emotional type and group did not reach significant level in both Go and Nogo trials (accuracy: p > 0.05; reaction time: p > 0.05), which indicated that when participants respectively responded to happy, neutral and sad faces, there were no differences in terms of accuracy and reaction time. Thus, accuracy and reaction time were not effective indices that could be used to discern age differences in AER. The ERPs results showed: 1) Go-N2 amplitudes and latencies following happy and sad faces decreased more than those following neutral faces (amplitudes: p < 0.001; amplitudes: p < 0.001). Moreover, happy and sad faces prompted higher Nogo-P3 amplitudes and shorter Nogo-P3 latencies than neutral faces (amplitudes: p < 0.001; amplitudes: p < 0.001). These results indicated that emotional faces attract more attention than neutral faces. AER can modulate early ERPs components, and both Go-N2 and Nogo-P3 can be used as electrophysiological indices of AER. Go-N2 reflects top-down attention and Nogo-P3 overlaps with the automatic response inhibition of emotions. These results were consistent with previous studies. 2) In reaction to happy faces, the older group had higher Go/Nogo-P3 amplitudes than the younger group (p < 0.001); however, age differences in Go/Nogo-P3 latencies did not significant (p > 0.05). Conversely, the older group had higher Go/Nogo-P3 amplitudes and longer latencies than the younger group in reaction to sad faces (amplitudes: p < 0.001; latencies: p < 0.05), which showed that it was easier for the older to inhibit the automatic response to negative stimuli. In sum, these results suggested that there is AER in the emotional cued Go/Nogo task and there is the positive effect in older adults to some extent when they regulated emotions automatically. The ERPs has an advantage in studying AER. The present study provides an evident support to the positive effect in AER from the perspective of ERPs. Future research can increase the amounts of participants and explore theoretical basis to further investigate the aging effect of AER and its mechanism.