We report the probable identification of the X-ray counterpart to the γ -ray pulsar PSR J2021+4026 using imaging with the Chandra X-ray Observatory Advanced CCD Imaging Spectrometer and timing analysis with the Fermi satellite. Given the statistical and systematic errors, the positions determined by both satellites are coincident. The X-ray source position is R.A. 20 ͪ 21 ͫ 30ˢ.733, decl. + 40◦26’46“.04 (J2000) with an estimated uncertainty of 1“.3 combined statistical and systematic error. Moreover, both the X-ray to γ -ray and the X-ray to optical flux ratios are sensible assuming a neutron star origin for the X-ray flux. The X-ray source has no cataloged infrared-to-visible counterpart and, through new observations, we set upper limits to its optical emission of i’ > 23.0 mag and r’ > 25.2 mag. The source exhibits an X-ray spectrum with most likely both a power law and a thermal component. We also report on the X-ray and visible light properties of the 43 other sources detected in our Chandra observation.