Between 16% and 98% of extremely preterm infants receive treatment for hypotension in the first few days of life. This enormous variation has arisen because of a lack of reliable information to create an evidence base for intervention. This review article provides the unique characteristics of the neonatal cardiovascular system, and addresses the definitions of hypotension and shock in the preterm infant, the indications for treatment and appropriate therapies in individual cases. The treatment of shock and hypotension in the preterm infant may be the area of neonatology where there is the greatest 'intervention/data imbalance'; more babies receive more treatments with less supportive evidence than in virtually any other domain. Treatment of hypotension in infants with good perfusion is probably unnecessary and may be harmful, but the assessment of adequate perfusion remains problematic. Infants with inadequate oxygen delivery to the tissues may benefit from treatment, but which treatments are effective are unknown. It is essential that better evidence be available to create a rational basis for intervention.