Objective Long-term respiratory consequences of bronchopulmonary dysplasia (BPD) in preterm infants born in the post-surfactant era (“new” BPD) remain partially unknown. The present study aimed to evaluate respiratory outcomes of “new” BPD in adolescents who were born preterm. Methods This multicenter, cross-sectional study included 286 adolescents born between 2003 and 2005 (mean age: 14.2 years); among them, 184 and 102 were born extremely preterm (EP) (< 28 weeks’ gestation) and moderate-late preterm (32 to < 37 weeks’ gestation), respectively. Among EP adolescents, 92 had BPD, and 92 did not. All participants underwent lung function tests, skin prick testing, and questionnaires on asthma symptoms and quality of life. Results EP adolescents with BPD had significantly lower forced expiratory volume in 1 s (FEV1), forced vital capacity (FVC), FEV1/FVC ratio, and forced expiratory flow between 25%–75% of FVC than other included adolescents. FEV1/FVC ratios were below the lower limit of normal (z-score < −1.645) in 30.4% of EP adolescents with BPD, 13.0% of EP adolescents without BPD, and 11.8% of adolescents who were born moderate-late preterm. Bronchodilator response and air-trapping were significantly higher in BPD adolescents than in other adolescents. Diffusion capacity was significantly lower in EP adolescents than in moderate-late preterm adolescents. Asthma symptoms and quality of life scores were similar among groups. Conclusion EP adolescents with “new” BPD had poorer pulmonary function than EP adolescents without BPD or moderate-late preterm adolescents. Further studies are needed to determine whether “new” BPD is associated with early-onset chronic obstructive pulmonary disease in adulthood.