Schizophrenia (SCZ) spectrum and bipolar disorder (BD) are severe mental disorders with unknown pathophysiology. Altered visual evoked potential (VEP), an electroencephalogram signal reflecting function in the primary visual cortex (V1), abnormal visual processing and visual hallucinations reported in these patients, all point towards V1 dysfunction. While the mechanisms contributing to V1 dysfunction remain unknown, structural alterations are possible candidates. Lack of insight into neural substrates of structure and functional in V1 has limited our ability to determine implications of altered V1 function. While combining VEP and magnetic resonance imaging has increased our understanding of the structure-function relationship in V1 in healthy individuals, no previous study has examined the same structure-function relationship in patients with SCZ spectrum and BD. Here, we aimed to confirm previous findings of a selective positive correlation between the amplitude of the P100 component of the VEP and V1 surface area (SA) in 307 healthy individuals and to examine whether this relationship was altered in patients with SCZ spectrum (n=30) and BD (n=45). The correlation between the P100 amplitude and the total, (r=0.16, p=0.006), right (r=0.14, p=0.013) and left V1 surface area (r=0.13, p=0.02) was significant in healthy individuals, but not in patients. The current results support previous findings of a selective relationship between P100 amplitude and V1 surface area in healthy individuals and suggests that other factors than V1 surface area or thickness explain V1 dysfunction reported in these patients.