Rationale An association between neurocognitive deficits and pediatric sleep disordered breathing has been suggested; however, weak correlations between disease severity and functional outcomes underscore the lack of knowledge regarding factors modulating cognitive morbidity of sleep disordered breathing. Objectives Identify the parameters affected by sleep disordered breathing which modulate cerebral oxygenation, an important determinant of cognition. Use these parameters with demographic data to develop a predictive statistical model of pediatric cerebral oxygenation. Methods Ninety two children (14 controls, 32 with primary snoring, and 46 with obstructive sleep apnea) underwent polysomnography with continuous monitoring of cerebral oxygenation and blood pressure. Analysis of covariance was used to relate the blood pressure, sleep diagnostic parameters, and demographic characteristics to regional cerebral oxygenation. Measurements and Main Results To account for anatomic variability, an index of cerebral oxygenation during sleep was derived by referencing the measurement obtained during sleep to that obtained during wakefulness. In a repeated measures model predicting the index of cerebral oxygenation, mean arterial pressure, REM sleep, female gender, age and oxygen saturation had a positive effect on cerebral oxygenation levels, whereas arousal index and NREM sleep had a negative effect. Conclusion Increasing mean arterial pressure, age, oxygen saturation and rapid eye movement sleep augment cerebral oxygenation while sleep disordered breathing, male gender, arousal index and non-rapid eye movement sleep diminish it. The proposed model may explain the sources of variability in cognitive function of children with sleep disordered breathing.