Sleep has a beneficial effect on memory consolidation. However, its role in emotional memory is currently debated. Here, we investigate the role of sleep and a similar period of wakefulness on the recognition of emotional pictures and subjective emotional reactivity. Forty participants without any major physical, neurological or psychological condition were randomly assigned to the Sleep First Group or Wake First Group. The two groups underwent the encoding phase of an emotional images task with negative and neutral pictures at either 09:00 hours (Wake First Group) or 21:00 hours (Sleep First Group). Then participants performed an immediate recognition test (T1), and two delayed tests 12 hr (T2) and 24 hr (T3) later. Perceived arousal and valence levels were collected for each picture. Sleep parameters were recorded at participants' homes with a portable device. No differences were observed at T1, whereas at T2 the Sleep First Group showed a higher memory performance than the Wake First Group. At T3, performance decreased in the Sleep First Group (who spent the previous 12 hr awake), but not in the Wake First Group (who slept during the previous 12 hr). Overall, negative images were remembered better than neutral ones. We also observed a positive association between memory performance for negative items at the immediate test and the percentage of rapid eye movement sleep the night before the encoding. Our data confirm that negative information is remembered better over time than neutral information, and that sleep benefits the retention of declarative information. However, sleep seems not to preferentially improve emotional memory, although it may affect the encoding of negative information.