Recombinant human erythropoietin (rhEPO) treatment is an alternative to erythrocyte transfusions in neonates with anemia of prematurity (AOP). This study assesses the impact of rhEPO administration within the first week of life on the incidence of AOP (any stage, individual AOP stages, and red-blood-cell (RBC) transfusions. Out of 108 preterm neonates, 49 were administered rhEPO and compared to the remaining group using univariate and multivariate analyses. Univariately, gestational age (GA), birth weight (BW), hemoglobin (Hb), hematocrit (HCT), and RBC levels, and iron administration were significantly associated to AOP (p<0.05 each); however, only the latter remained significant after adjusting for covariates (AOR: 2.75, 95% CI, 1.06–7.11). Multinomial analysis revealed rhEOP therapy was associated with a near 3-fold reduction in moderate AOP incidence (OR: 0.36, 95% CI, 0.15–0.89). Furthermore, ANCOVA revealed positive correlations between rhEPO administration and 21-day Hb (p<0.01), HCT (p<0.05), and EPO (p<0.001) levels. The results confirm previously reported benefits of rhEPO treatment, such as reduced moderate AOP incidence and increased Hb, HCT, and serum EPO levels.