Functional magnetic resonance imaging (fMRI) has become one of the most important neuroimaging techniques today. It is based on endogenous Blood Oxygenation Level Dependant contrast (BOLD) and has found numerous applications in basic and applied neuroscience. Transcranial magnetic stimulation (TMS) is a non-invasive and painless tool to manipulate neuronal tissue at very well defined time points. This technique represents not only an efficient brain mapping tool, but is also used in the therapy of psychiatric disorders. Studies with simultaneous fMRI and TMS offer the possibility to directly study the effects of local TMS-induced alterations of cortical excitability. This combination could help answer unresolved questions concerning TMS mechanisms and causality aspects in neuronal networks studies. Therefore, there has been an increased interest in studies applying concurrent TMS and fMRI. However, simultaneous TMS/fMRI experiments are faced by significant challenges. So far they were performed using rather large birdcage RF head coils to provide adequate space for positioning of the TMS system between head and RF coil. Such a setup results in poor sensitivity for the MRI experiment due to the large distance between brain and RF coil. Using such a setup, positioning of the TMS coil is a very cumbersome task and there is little flexibility for the TMS placement. Furthermore, these RF coils cannot profit of the new advanced parallel imaging techniques to reduce scanning time. The primary aim of this work was to improve the sensitivity of TMS/fMRI experiments. For this purpose, a dedicated radio frequency (RF) coil array was developed that can be placed between the TMS device and the subject's head. The developed hardware was designed as a receive-only coil array for 3 Tesla systems. Development and testing of this coil array, as well as interactions between TMS and the RF coil represent the core topics of this thesis. Finally, as proof of concept, a concurrent TMS/fMRI study over motor cortex was realized using the new receive coil array. The results of this study show not only a boost in sensitivity, but also the applicability of accelerated fMRI acquisition strategies and, thus, high spatial and temporal resolution compared to the standard setup. In addition, advantages regarding coil positioning by combination with online neuronavigation were verified.