In this literature review, we will be discussing potential risk factors contributing to the development of retinopathy of prematurity (ROP), a significant cause of childhood blindness worldwide. While the majority of current guidelines focus on gestational age and birth weight, more recent literature has suggested other factors, including demographic and clinical risk factors might be at play. Studies have revealed sex, sepsis, blood transfusion, oxygen supplementation, RDS, and maternal complications to be potential risk factors in the development of this disease. Recognizing the complexity of ROP risk factors is pivotal, not only for the development of predictive models but also for gaining profound insights into the pathophysiology of retinal vascular diseases and conditions associated with prematurity. This review aims to provide a better understanding that can guide future clinicians and researchers to treating and studying ROP. This study is a literature review, where researchers systematically examined articles aligning with pre-established criteria. The screening process involved assessing titles, abstracts, keywords, inclusion criteria, and the entire text contents of relevant previous articles for review.