Introduction: Retinopathy of prematurity (ROP) is a vasoproliferative disorder of the retina among preterm infants which is the main cause of blindness in premature infants but recognized as leading cause of preventable blindness and visual impairment in children if treated early. It is a multifactorial disease in which retinal blood vessels of premature preschoolers fail to grow and develop normally, resulting in visual impairment and blindness. Objectives: The objective of the study is to assess the risk factors for retinopathy of prematurity in preterm very low birth weight babies. Material & Methods: This was a prospective observational study conducted at Special Care Baby Unit (SCABU), Department of Neonatology and Pediatrics, Department of Ophthalmology; Bangladesh Institute of Research and Rehabilitation for Diabetes, Endocrine and Metabolic Disorders (BIRDEM) from October 2016 to March 2017. One hundred and twenty-nine (129) preterm very low birth weight infants admitted in SCABU, BIRDEM during the study period were selected considering the inclusion and exclusion criteria. Data were analyzed using SPSS version 20.0 and were expressed as mean ± standard deviation. Results: All babies weighed less than 1500 gm, among them 11 (12.2%) were < 1000 gm and 79 (87.8 %) were ≥1000-1500gm. Forty-three, 43(47.8%) baby’s gestational age was ≤32 weeks and forty-seven 47(52.2%) baby’s gestational age was >32 weeks, 74(82.2%) were inborn, 16 (17.8%) were out born. Seventy-nine, 79 (87.8%) were delivered by LUCS and 11(12.2%) by NVD. Conclusion: This study concluded that overall frequency of ROP was 30% among screened infants. Among the ROP diagnosed cases 11.1% required anti VGEF injection, 14.8 % received laser therapy. Lower gestational age, use of mechanical ventilator and frequent blood transfusions were found to be the most significant risk factors. There are few studies on the incidence and risk factors of this important morbidity in the developing countries. Taking known preventive measures, early detection and management of ROP can prevent blindness. The prognosis for maintaining functional vision is poor in advanced cases of ROP even with the application of currently available methods of treatment.