Background: Neonatal hyperbilirubinemia is one of the most common clinical condition seen in neonates in the first week of life. In substantial number of cases, the significant hyperbilirubinemia may reach to a level which is toxic enough to cause brain damage and can lead to kernicterus. The prevention of poor outcomes necessitates early detection of neonates who are at risk of developing significant hyperbilirubinemia. The objective of this study was to determine the critical cord serum bilirubin and albumin levels and bilirubin/albumin ratio for early prediction of significant hyperbilirubinemia in healthy term newborns. Material and Method: This prospective study included 200 full-term healthy neonates. Measurement of cord bilirubin, albumin and bilirubin/albumin ratio was done to predict significant hyperbilirubinemia in healthy term newborns based on serum bilirubin measurements made at 24 hours,72 hours and day 5 of postnatal life. Results: ROC curve analysis demonstrated that cord serum total bilirubin cut off value of ≥2.255 mg/dl had a good predictive value with a sensitivity of 87.5% and specificity of 98.81% and cord serum albumin cut off value ≤ 2.950 g/dl also had a good predictive value with a sensitivity of 87.5% and specificity of 95.24%. Cord bilirubin/albumin ratio cut off value >0.835 had the best predictive value out of the three parameters with a sensitivity of 87.5% and specificity of 99.40%. Conclusion: Cord serum bilirubin, albumin and cord bilirubin/albumin ratio could be early predictors for significant neonatal hyperbilirubinemia.