Disturbances of functional interaction between different brain regions have been hypothesized to be the major pathophysiological mechanism underlying the cognitive deficits of schizophrenia. We investigated the small-world functional networks in individuals at ultra-high risk (UHR) for psychosis, first-episode schizophrenia (FESPR) patients, and healthy controls. All participants underwent the electroencephalogram during a control task and a working memory (WM) task Small-world properties of the theta band were reduced in FESPR relative to controls during the WM task. Small-worldness of the UHR during the WM task exhibited intermediate value between that of controls and FESPR. These results imply that the suboptimal organization of the brain network may play a pivotal role in the schizophrenia pathophysiology. (C) 2012 Elsevier Ireland Ltd. All rights reserved.