Notebooks are widely used in a large number of professional and everyday life contexts. The notebook has been widely mentioned in the context of distributed cognition, the extended mind hypothesis and the study of cognitive artefacts. Despite its ubiquity and almost paradigmatic status, to date, there is no dedicated analysis of the notebook qua cognitive artefact, to explain its success and its resilience. Our aim is to fill this gap in the literature by studying a set of cognitive advantages of the notebook. For our analysis, we employ the methodological framework of distributed cognition. Using this framework, we find a series of cognitive advantages at both an individual and at a group level. At an individual level, these include external non-biological memory, the consolidation of long-term biological memory encoding, effects on attention modulation, an enhancement in metacognition and the graphication of thought. At the group level, the cognitive advantages include collaboration, the transference of content from one user to another, group-level metacognition, coordination, and the transformation of the overall epistemological setting in which notebook use takes place.