Introduction and objective: The aim of the study was to assess the association between serum levels of fibroblast growth factor-2 (FGF-2) in infants in the first week of life and the risk of developing bronchopulmonary dysplasia. Materials and methods: The study included 103 infants, born before 32 weeks of gestation with a birth weight ≤1,500 g. Serum FGF-2 levels were measured in all newborns on days 1 and 7 of life. Results: Analysing the dynamics of changes in serum FGF-2 level, a statistically significant positive correlation was observed for birth weight (R = 0.20, p = 0.0423) in the first week of life. However, no statistically significant correlation was found for gestational age (R = 0.06, p = 0.5146). Infants with bronchopulmonary dysplasia had significantly lower gestational age than those without bronchopulmonary dysplasia (p < 0.0001) and birth weight (p < 0.0001). No statistically significant correlation was found between the dynamics of changes in serum FGF-2 level in the first week of life and the risk of bronchopulmonary dysplasia development for the definition of bronchopulmonary dysplasia on day 28 of life (p = 0.5330), and for the definition as the need for supplemental oxygen and/or respiratory support at 36 weeks of postmenstrual age (p = 0.7914). Conclusions: The study found no association between the serum FGF-2 level in the first week of life and the risk of bronchopulmonary dysplasia development in infants born before 32 weeks of gestation with a birth weight ≤1,500 g. In the study group, a statistically significant positive correlation was found for birth weight. In our study, gestational age and birth weight were found to be among the major risk factors for the development of bronchopulmonary dysplasia.