Introduction: Bronchopulmonary dysplasia (BPD) is one of the major respiratory complications in very low birth weight infants and is associated with high neonatal morbidity and mortality. Objective: To identify perinatal and neonatal factors associated with the development of bronchopulmonary dysplasia during hospitalization in preterm infants born at 32 weeks of gestation or less and with birth weight below 1500 g, as well as to determine the incidence and severity of this disease. Materials and Methods: A retrospective study was conducted through the review of medical records of preterm infants admitted to the Ana Goitia Specialized Maternal and Child Acute Care Hospital between 2022 and 2024. Clinical and perinatal characteristics of patients with and without bronchopulmonary dysplasia (BPD) were analyzed. In addition, disease severity was assessed among infants who developed BPD in order to identify potential factors associated with its occurrence and progression. Results: Patients with bronchopulmonary dysplasia were more frequently treated with high-frequency mechanical ventilation, were exposed to higher FiO₂, required longer oxygen therapy, received pharmacological treatment for patent ductus arteriosus more often, and had longer hospitalizations. Conclusion: The incidence of bronchopulmonary dysplasia was 40.5%, with a predominance of moderate forms. Lower gestational age, the use of high-frequency mechanical ventilation, higher oxygen requirements, longer duration of oxygen therapy, and pharmacological treatment for patent ductus arteriosus were associated with the development of the disease. Among infants with bronchopulmonary dysplasia, a longer duration of oxygen therapy was associated with moderate-to-severe disease.