Cygnus OB2 is the nearest example of a massive star-forming region (SFR), containing over 50 O-type stars and hundreds of B-type stars. We have analyzed the properties of young stars in two fields in Cyg OB2 using the recently published deep catalog of Chandra X-ray point sources with complementary optical and near-IR photometry. Our sample is complete to ~1M_{sun}_ (excluding A- and B-type stars that do not emit X-rays), making this the deepest study of the stellar properties and star formation history in Cyg OB2 to date. Combining our stellar mass function (MF) and an estimate of the radial density profile of the association suggests a total mass of Cyg OB2 of ~3x10^4^M_{sun}_, similar to that of many of our Galaxy's most massive SFRs.