Objective. To analyze the effectiveness of nursing risk management in neonatal asphyxia resuscitation care and to observe and summarize the nursing measures and outcomes. Methods. A total of 60 neonatal asphyxia cases from January 2021 to December 2021 were recruited and assigned via a random number table method at a ratio of 1 : 1 to receive either routine care plus nursing risk management (the observation group, n = 30) or routine care (the control group, n = 30). Outcome measures included blood gas index, neonatal Apgar score, neonatal behavioral neurological assessment (NBNA) score, nursing satisfaction, and complications. Results. The differences in partial pressure of oxygen (PaO2) and partial pressure of carbon dioxide (PaCO2) between the two groups before care were not statistically significant ( P > 0.05 ), while after care, PaO2 in the observation group had a higher level of PaO2 and a lower level of PaCO2 than the control group ( P < 0.01 ). The two groups showed similar Apgar scores and NBNA scores before care ( P > 0.05 ), while after care, routine care plus nursing risk management resulted in higher Apgar scores and NBNA scores versus routine care alone ( P < 0.01 ). The nursing satisfaction rate in the observation group (96.67%) was significantly higher than that of the control group (73.33%) ( P = 0.030 ). Nursing risk management plus routine care was associated with a significantly lower incidence of complications (6.67%) compared to routine care (26.67%) ( P = 0.038 ). Conclusion. Nursing risk management in neonatal asphyxia resuscitation care showed outstanding outcomes in improving neonatal blood gas index, neurological function, and Apgar score, while reducing the occurrence of complications and achieving high nursing satisfaction.