Analysis of neural data recorded with implantable microelectrode arrays poses a significant challenge to the neuroscience and the neural engineering communities. The numerous signal processing and analysis steps need to be performed in order to extract the affluent amount of information in these data to understand their correlation with observed behavior. This paper summarizes our most recent effort to develop a comprehensive neural signal processing and data analysis software that incorporates standard analysis tools in addition to our in-house advanced tools. The software, referred to herein as NeuroQuest®, is implemented using MATLAB. It has been extensively tested on simulated and experimental neural data and will be disseminated to the community in the short term.