A wireless cortical neural recording system with a miniature-implanted package is needed in a variety of neuroscience and biomedical applications. Toward that end, we have developed a transcutaneous two-way communication and power system for wireless neural recording. Wireless powering and forward data transmission (into the body) at 1.25 Mbps is achieved using a frequency-shift keying modulated class E converter. The reverse telemetry (out of the body) carrier frequency is generated using an integer-N phase-locked loop, providing the necessary wideband data link to support simultaneous reverse telemetry from multiple implanted devices on separate channels. Each channel is designed to support reverse telemetry with a data rate in excess of 3 Mbps, which is sufficient for our goal of streaming 16 channels of raw neural data. We plan to incorporate this implantable power and telemetry system in a 1-cm diameter single-site cortical neural recording implant.