Background: Retinopathy of prematurity (ROP) is a potentially blinding disorder of the neonates seen mostly in preterm neonates. Objective: To study the incidence, risk factors, clinical profile and immediate outcome of neonates with ROP after screening. Method: A prospective observational study was carried out among 336 neonates at Gandhi Medical College, Bhopal from January 2018 to June 2019. After recording detailed history of mother and neonate, eye examination and screening were performed. Prevalence, epidemiology, clinical profile, risk factors and outcomes of ROP were assessed. Results: The incidence of ROP in the present study was 19.94%, 31.3% babies developed stage 1 ROP, 26.8% developed stage 2 ROP, 23.3% had stage 3 ROP, 13.4% had stage 4 ROP and 5.97% had stage 5 ROP. Of the 67 babies who developed ROP 35.82% babies had spontaneous regression of ROP and developed mature retina whereas 64.18% babies required treatment of ROP. Conclusion: Our study concludes that low birth weight, gestational age, oxygen administration, duration of oxygen exposure, mechanical ventilation, respiratory distress syndrome, surfactant use, sepsis, blood transfusion, bronchopulmonary dysplasia, and apnoea are the risk factors which play a significant role in development of ROP.