Objective To identify maternal, fetal and neonatal risk factors associated with perinatal hypoxia in neonates at Hospital Universitario Mayor Mederi (HUM Mederi) from 2007 to 2011. Methodology In the period 2007-2011, 8 837 children were born in HUM Mederi. Only the cases that presented with perinatal asphyxia (PA), according to the American Congress of Obstetricians and Gynecologists (ACOG), or another respiratory distress (RD) diagnosis were considered for this analysis, based on the computer records of the Neonatology Service in HUM Mederi. Maternal, fetal and neonatal risk factors were analyzed. Data were shown according to the number of newborns in each group and their percentage. Results The overall mortality rate was 10.7. The lowest values were found in 2010 and 2011 (3.3 and 1.8, respectively). Gestational diabetes, hypertension, chorioamnionitis and placenta previa were more frequent in the RD group, whereas hypoglycemia, sepsis, hypotonia and hypoactivity among neurological alterations were more common in the PA group. Correspondence between neurological alterations and Apgar Test was low in the cases diagnosed with PA. Conclusions The mortality rate was very low compared to regional and local levels, and more infants presented with moderate perinatal asphyxia. These results coincide with literature reports. The high number of preterm births with DR emphasizes the importance of controlling the implementation of actions to reduce the risk factors associated with this condition.