A chronically stable electrode material with low impedance for recording neural activity and high charge-injection capacity for functional electro-stimulation is desirable for the fabrication of implantable microelectrode arrays that aims to restore impaired or lost neurological functions in humans. For this purpose, we have investigated the electrochemical properties of sputtered ruthenium oxide (RuOx) electrode coatings, deposited on planar microelectrode arrays, using an inorganic model of interstitial fluid (model-ISF) at 37o C as the electrolyte. Through a combination of cyclic voltammetry (CV) and electrochemical impedance spectroscopy (EIS) modelling study we have established the contribution of faradaic reaction as the major charge-injection contributor within the safe neural stimulation potential window of 0.6 V vs Ag|AgCl. We have also established the reversibility of the charge-injection process for sputtered RuOx film by applying constant charge-per-phase current stimulations at different pulse widths and by comparing the magnitudes of leading and trailing access voltages during voltage transient measurements. Finally, the impedance of the sputtered RuOx film was found to be reasonably comparable in both its oxidized and reduced states, although electronic contribution from capacitive double-layer was found to be slightly higher for the completely oxidized film around 0.6 V than its reduced counterpart around -0.6V.