The electroencephalogram (EEG) and functional near-infrared spectroscopy (fNIRS) signals, highly non-stationary in nature, greatly suffers from motion artifacts while recorded using wearable sensors. Since successful detection of various neurological and neuromuscular disorders is greatly dependent upon clean EEG and fNIRS signals, it is a matter of utmost importance to remove/reduce motion artifacts from EEG and fNIRS signals using reliable and robust methods. In this regard, this paper proposes two robust methods: (i) Wavelet packet decomposition (WPD) and (ii) WPD in combination with canonical correlation analysis (WPD-CCA), for motion artifact correction from single-channel EEG and fNIRS signals. The efficacy of these proposed techniques is tested using a benchmark dataset and the performance of the proposed methods is measured using two well-established performance matrices: (i) difference in the signal to noise ratio ( ) and (ii) percentage reduction in motion artifacts ( ). The proposed WPD-based single-stage motion artifacts correction technique produces the highest average (29.44 dB) when db2 wavelet packet is incorporated whereas the greatest average (53.48%) is obtained using db1 wavelet packet for all the available 23 EEG recordings. Our proposed two-stage motion artifacts correction technique, i.e., the WPD-CCA method utilizing db1 wavelet packet has shown the best denoising performance producing an average and values of 30.76 dB and 59.51%, respectively, for all the EEG recordings. On the other hand, for the available 16 fNIRS recordings, the two-stage motion artifacts removal technique, i.e., WPD-CCA has produced the best average (16.55 dB, utilizing db1 wavelet packet) and largest average (41.40%, using fk8 wavelet packet). The highest average and using single-stage artifacts removal techniques (WPD) are found as 16.11 dB and 26.40%, respectively, for all the fNIRS signals using fk4 wavelet packet. In both EEG and fNIRS modalities, the percentage reduction in motion artifacts increases by 11.28% and 56.82%, respectively when two-stage WPD-CCA techniques are employed in comparison with the single-stage WPD method. In addition, the average also increases when WPD-CCA techniques are used instead of single-stage WPD for both EEG and fNIRS signals. The increment in both and values is a clear indication that two-stage WPD-CCA performs relatively better compared to single-stage WPD. The results reported using the proposed methods outperform most of the existing state-of-the-art techniques.