Introduction: Ivermectin has been used to prevent and treat COVID-19 patients, however, research has shown that its efficacy does not justify its use. Objective: To determine the association between the use of Ivermectin, mortality and 3 other indicators in patients with COVID-19. Methods: Observational retrospective cohort study. We reviewed the medical records of patients who were hospitalized between April and October 2020, who in addition to standard treatment (oxygen therapy, corticosteroid and enoxaparin), received treatment with Ivermectin for severe or critical COVID-19 pneumonia. Four outcome variables were measured: mortality, indication for transfer to the Intensive Care Unit days of hospitalization and time required for high-flow oxygen therapy. Results: Of patients, 42 % (126) died and 52 % (159) had indication for transfer to the Intensive Care Unit. In the multivariate analysis those who took a higher dose had a greater indication for transfer to Intensive Care Unit (RRa: 1.10; IC 95 %: 1.01-1.20; p-value= 0.035), days of hospitalization (coefficient: 5,07; IC 95 %: 2.15-11.92; p-value< 0.001) and time requiring high-flow oxygen therapy (coefficient: 3.33; IC 95 %: 1.56-7.09; p-value= 0.002). Conclusion: Patients who received Ivermectin were more likely to be referred to the Intensive Care Unit, had a longer hospital stay, and required more time on high-flow oxygen, without finding a relationship with mortality in patients hospitalized for SARS-CoV-2. The administration of Ivermectin before or during hospitalization had no benefit.