Retinal diseases are among the leading causes of vision impairment worldwide, and early detection is essential for enabling personalized treatments and preventing irreversible vision loss. In this paper, we propose a method aimed to identify and localize retinal conditions, i.e., Age-Related Macular Degeneration, Diabetic Retinopathy, and Choroidal Neovascularization, using explainable deep learning. For this purpose, we consider seven fine-tuned convolutional neural networks: MobileNet, LeNet, StandardCNN, CustomCNN, DenseNet, Inception, and EfficientNet. Moreover, we develop a novel architecture i.e., NeoNet, specifically designed for the detection of retinal diseases, achieving an accuracy of 99.5%. Furthermore, with the aim to provide explaianability behind the model decision, we highlight the most critical regions within retinal images influencing the predictions of the model. The obtained results show the ability of the model to detect pathological features, thereby supporting earlier and more accurate diagnosis of retinal diseases.