Background: Cerebral Doppler ultrasound is an emerging bedside tool to measure cerebral perfusion in premature and critically ill neonates. The review focused on maturation and disease-associated Doppler spectra in neonates for diagnostic and prognostic relevance and to identify relevant research areas. Methods: A comprehensive literature search was conducted to review cerebral Doppler parameters noted in specific disease states. Further efforts were focused to understand the clinical relevance of these indices in the management of neonates and to predict their long-term neurodevelopmental outcomes. Results: The review focused on routinely used cerebral Doppler parameters in normal and diseased states. Resistive index (RI) in the anterior cerebral artery (ACA) is a frequently used parameter in infants with primary brain injury and in preterm neonates with hemodynamically significant patent ductus arteriosus (HsPDA). Conclusion: Despite extensive use, major gaps remain in our understanding of cerebral Doppler parameters for diagnosis, monitoring, and prediction of neurodevelopmental outcomes in neonates. Further studies are needed to decode these data in a more precise manner.