This study aimed to investigate the relationship between neural efficiency and the ability of an athlete to produce accurate efforts in different perceived intensity zones during a racing scenario. The α/β ratio was used to quantify the neural efficiency during cycling, as it traduced the degree of participants information processing activity with lower cortical activity possible. Twelve trained competitive male cyclists delimited their perceived intensity zones 2 to 6 on a scale to assess the rating of exercise intensity. Then, they performed a 30 min racing scenario during which they had to produce different perceived intensities. The ability of athletes to produce perceived effort with accuracy and their neural efficiency was quantified during the racing scenario. The increase in the neural efficiency with the increase in the effort intensity could partly explain the improvement in athletes' ability to produce accurately perceived efforts from intensity zones 3 to 6. Moreover, the neural efficiency during the racing scenario was significantly correlated to the ability to produce perceived effort with accuracy at submaximal intensities.