Background: In this study, we used intraoperative neurophysiological monitoring (IONM) during anterior cervical discectomy and fusion (ACDF). Rather than emphasizing its use for safety purposes, our goal was to evaluate how neurophysiological parameters change during surgery and their correlation with clinical findings. Methods: This study included 30 patients who underwent ACDF. Detailed neurological examination was performed together with manual muscle testing (MMT), the Numeric Pain Rating Scale (NPRS), and the Neck Disability Index (NDI) questionnaire. During surgery, somatosensory-evoked potentials (SSEPs), motor-evoked potentials (MEPs), and spontaneous electromyography were registered. Results: There were statistically significant difference in the latency and amplitude of SSEPs of the right median nerve. Regarding the left median nerve, there was a statistically significant difference in amplitude, but not in latency. Differences were also observed in the amplitudes of right and left tibial nerve SSEPs, though no significant differences were found in their latencies. No statistically significant difference was found in the threshold values required to elicit MEPs between the beginning and end of the surgery. Additionally, we found a statistically significant positive correlation between the latency of the left and right median nerve and the left tibial nerve with somatosensory impairment. There was also a significant negative correlation between the amplitude of both tibial nerves and somatosensory impairment, and their latency showed a significant negative correlation with pain level before surgery. We found statistically significant decreases in NDI and pain level values one month after surgery. Conclusions: The results show significant changes in SSEPs and a correlation between clinical and neurophysiological findings and emphasize the importance of using MEPs to assess the condition of the motor system. Additionally, there was a general improvement in the patients’ condition, as assessed by NDI and pain scores. This study identifies critical surgical phases to consider in the absence of real-time neuromonitoring feedback and emphasizes that clinical observations may not fully reflect the condition of neurological structures in patients with myelopathy, which is crucial when deciding on timely surgery.