The imbalance of inflammatory and antiinflammatory responses in favor of inflammation plays a major role in the pathogenesis of many neonatal diseases. Inflammation in the perinatal period carries important longterm consequences, including neurodevelopmental and respiratory complications. Treatments able to restore immune homeostasis may reduce neonatal mortality and prevent longterm deleterious multi-organ consequences of unchecked inflammation. Mesenchymal stromal cells are a heterogenous group of progenitors cells with potent anti-inflammatory and immunomodulatory potential, among other diverse mechanisms of action. Thus, mesenchymal stromal cells (MSCs) may represent a novel and effective therapy for several neonatal diseases, potentially capable of preventing their longterm complications. This paper reviews the role of inflammation in the perinatal period and the therapeutic role of MSCs, focusing on their anti-inflammatory potential.