Exposure of newborn rats to hyperoxia impairs alveolarization. Nitric oxide (NO) may prevent this evolution. Angiogenesis and factors involved in this process, but also other growth factors (GFs) involved in alveolar development, are likely potential therapeutic targets for NO. We studied the effects of the NO donor DETANONOate (D-NO) on hyperoxia-induced changes in key regulatory factors of alveolar development in neonatal rats, and its possible preventive effect on the physiological consequences of hyperoxia. Newborn rat pups were randomized at birth to hyperoxia (>95% O₂) or room air exposure for 6 or 10 days, while receiving D-NO or its diluent. On day 6, several GFs and their receptors were studied at pre- and/or post-translational levels. Elastin transcript determination on day 6, and elastin deposition in tissue and morphometric analysis of the lungs on day 10 were also performed. Hyperoxia decreased the expression of VEGF receptor VEGFR2, FGF18, and FGF receptors FGFR3 and FGFR4, increased mortality, and impaired alveolarization and capillary growth. D-NO treatment of hyperoxia-exposed pups restored the expression level of FGF18 and FGFR4, induced an increase of both VEGF mRNA and protein, enhanced elastin expression and partially restored elastin deposition in alveolar walls. Although under the present conditions D-NO failed to prevent the physiological consequences of hyperoxia in terms of survival and lung alveolarization, our findings therefore demonstrate molecular effects of NO on GFs involved in alveolar development that may have contributed to the protective effects previously reported for NO.