Maintenance of cerebral blood flow (CBF) by maintaining blood pressure and brain cell activity and avoiding hypocapnia is important when administering anesthesia in patients with dementia. This study aimed to evaluate CBF during general anesthesia in elderly patients with severe dementia while maintaining their physiological parameters in the adequate range. The patients were anesthetized under a setting range of parameters without affecting CBF (mean arterial pressure [MAP] > 50 mmHg; bispectral index [BIS] > 20; percutaneous arterial oxygen saturation [SpO2] > 95%; end-tidal CO2 [etCO2] 35–40 mmHg). The normalized tissue hemoglobin index (nTHI), which reflects CBF, was measured using near-infrared spectroscopy. The parameters were compared between patients with severe dementia (n = 13) and those without cognitive impairment (n = 12). There were no differences in patient background. A similar decline in MAP and BIS values was observed in both groups, but the values remained within the setting range. The nTHI decreased significantly to 0.60 in the dementia group and to 0.75 in the non-dementia group after the start of treatment (P = 0.047). Even when the MAP, BIS, SpO2, and etCO2 values were maintained in their adequate ranges during general anesthesia, the nTHI decreased by 40% in the dementia group.