The IC 1396N cometary globule (CG) within the large nearby HII region IC 1396 has been observed with the ACIS detector on board the Chandra X-Ray Observatory. We detect 117 X-ray sources, of which ~50-60 are likely members of the young open cluster Trumpler 37 dispersed throughout the HII region, and 25 are associated with young stars formed within the globule. Infrared photometry (2MASS and Spitzer) shows that the X-ray population is very young: 3 older Class III stars, 16 classical T Tauri stars, and 6 protostars including a Class 0/I system.