There is an increasing demand for real-time neural signal monitoring from a large number of electrode contacts to provide adequate spatial and temporal resolution for brain mapping and high-resolution neural interface. This paper proposes a novel multi-channel neural recording system that records neural signals from a large number of electrodes with a smaller number of recording channels. The system utilizes an adaptive electrode selection technique to automatically scan the electrode arrays and record from selected electrodes where neural spikes are detected. The proposed neural recording IC was fabricated in CMOS 180 nm process and tested with in vitro environments. Experiment results with pre-recorded neural data indicate that neural spikes can be separated and amplified with the proposed system and counted in real-time.