Background: Electrical signals are generated inside human brain due to any mental or physical task. This causes activation of several sources inside brain which are localized using various optimization algorithms. Methods: Such activity is recorded through various neuroimaging techniques like fMRI, EEG, MEG etc. EEG signals based localization is termed as EEG source localization. The source localization problem is defined by two complementary problems; the forward problem and the inverse problem. The forward problem involves the modeling how the electromagnetic sources cause measurement in sensor space, while the inverse problem refers to the estimation of the sources (causes) from observed data (consequences). Usually, this inverse problem is ill-posed. In other words, there are many solutions to the inverse problem that explains the same data. This ill-posed problem can be finessed by using prior information within a Bayesian framework. This research work discusses source reconstruction for EEG data using a Bayesian framework. In particular, MSP, LORETA and MNE are compared. Results: The results are compared in terms of variational free energy approximation to model evidence and in terms of variance accounted for in the sensor space. The results are taken for real time EEG data and synthetically generated EEG data at an SNR level of 10dB. Conclusion: In brief, it was seen that MSP has the highest evidence and lowest localization error when compared to classical models. Furthermore, the plausibility and consistency of the source reconstruction speaks to the ability of MSP technique to localize active brain sources. © 2019 Bentham Science Publishers.