This paper introduces parametric multichannel fusion models to exploit the different but complementary brain activity information recorded from multiple channels in order to accurately classify differential brain activity into their respective categories. A parametric weighted decision fusion model and two parametric weighted data fusion models are introduced for the classification of averaged multichannel evoked potentials (EPs). The decision fusion model combines the independent decisions of each channel classifier into a decision fusion vector and a parametric classifier is designed to determine the EP class from the discrete decision fusion vector. The data fusion models include the weighted EP-sum model in which the fusion vector is a linear combination of the multichannel EPs and the EP-concatenation model in which the fusion vector is a vector-concatenation of the multichannel EPs. The discrete Karhunen-Loeve transform (DKLT) is used to select features for each channel classifier and from each data fusion vector. The difficulty in estimating the probability density function (PDF) parameters from a small number of averaged EPs is identified and the class conditional PDFs of the feature vectors of averaged EPs are, therefore, derived in terms of the PDFs of the single-trial EPs. Multivariate parametric classifiers are developed for each fusion strategy and the performances of the different strategies are compared by classifying 14-channel EPs collected from five subjects involved in making explicit match/mismatch comparisons between sequentially presented stimuli. It is shown that the performance improves by incorporating weights in the fusion rules and that the best performance is obtained using multichannel EP concatenation. It is also noted that the fusion strategies introduced are also applicable to other problems involving the classification of multicategory multivariate signals generated from multiple sources.