Somatosensory evoked potentials (SEPs) are widely used in the clinic as well as research to study the functional integrity of the different parts of sensory pathways. However, most general anesthetics, such as isoflurane, are known to suppress SEPs, which might affect the interpretation of the signals. In animal studies, the usage of anesthetics during SEP measurements is inevitable due to which detailed effect of these drugs on the recordings should be known. In this paper, the effect of isoflurane on SEPs was studied in a rat model. Both time and frequency properties of the cortical recordings generated by stimulating the tibial nerve of rat's hindlimb were investigated at three different isoflurane levels. While the anesthetic agent is shown to generally suppress the amplitude of the SEP, the effect was found to be nonlinear influencing more substantially the latter part of waveform. This finding will potentially help us in future work aiming at separating the effects of anesthetics on SEP from those due to injury in the ascending neural pathways.