ABSTRACT Subjective tinnitus describes the experience of hearing phantom sounds (e.g., tones, buzzing, noise). While the majority of those who report having experienced phantom sounds claim that these percepts have not lasted but are transient, some experience this chronically, with others even describing their tinnitus as severe enough to negatively impact their well-being and daily lives. Currently, no permanent solution has been discovered for preventing or curing tinnitus. This is due to several factors, including an insufficient understanding of the mechanisms at play that give rise to such auditory sensations, as well as a lack of research investigating the corresponding changes in neural activity associated with the onset and development of tinnitus. Taking advantage of the high spatial and temporal resolution of magnetoencephalography (MEG), we measured cortical activity associated with the development of acute tinnitus-like percepts induced via unilateral auditory deprivation. Over the course of four days, participants continuously wore a silicone earplug in one ear, which led to the experience of phantom sounds in 15 of 16 participants. Frequency analysis of source-localized continuous MEG data revealed a significant increase of gamma power in primary auditory cortices (A1) during the tinnitus condition (p=0.02), which most likely reflects the neuronal processing correlated with tinnitus perception.