The aim of this work is to identify the so far unknown low mass stellar population of the ~2Myr old Cygnus OB2 star forming region, and to investigate the X-ray and near-IR stellar properties of its members. We analyzed a 97.7ks Chandra ACIS-I observation pointed at the core of the Cygnus OB2 region. Sources were detected using the PWDETECT code and were positionally correlated with optical and near- IR catalogs from the literature. Source events were extracted with the Acis E XTRACT package. X-ray variability was characterized through the Kolmogorov-Smirnov test and spectra were fitted using absorbed thermal plasma models. We detected 1003 X-ray sources. Of these, 775 have near-IR counterparts and are expected to be almost all associated with Cygnus OB2 members.