We report a power-efficient analog front-end integrated circuit (IC) for multi-channel, dual-band subcortical recordings. In order to achieve high-resolution multi-channel recordings with low power consumption, we implemented an incremental ΔΣ ADC (IADC) with a dynamic zoom-and-track scheme. This scheme continuously tracks local field potential (LFP) and adaptively adjusts the input dynamic range (DR) into a zoomed sub-LFP range to resolve tiny action potentials. Thanks to the reduced DR, the oversampling rate of the IADC can be reduced by 64.3% compared to the conventional approach, leading to significant power reduction. In addition, dual-band recording can be easily attained because the scheme continuously tracks LFPs without additional on-chip hardware. A prototype four-channel front-end IC has been fabricated in 180 nm standard CMOS processes. The IADC achieved 11.3-bit ENOB at 6.8 μW, resulting in the best Walden and SNDR FoMs, 107.9 fJ/c-s and 162.1 dB, respectively, among two different comparison groups: the IADCs reported up to date in the state-of-the-art neural recording front-ends; and the recent brain recording ADCs using similar zooming or tracking techniques to this work. The intrinsic dual-band recording feature reduces the post-processing FPGA resources for subcortical signal band separation by >45.8%. The front-end IC with the zoom-and-track IADC showed an NEF of 5.9 with input-referred noise of 8.2 μVrms, sufficient for subcortical recording. The performance of the whole front-end IC was successfully validated through in vivo animal experiments.