This observational study examined morphological changes in superficial cerebral arteries and veins, which were correlated with increased intracranial pressure (ICP)-dependent and -independent hypoperfusion in hyperacute phase after subarachnoid hemorrhage (SAH). The prechiasmatic injection model was used, and 32 male Sprague-Dawley rats were divided into the sham-operated, saline-injected (V group, ICP increase), and arterial blood-injected (SAH group, subarachnoid blood and plus increase) groups. Morphological changes in cortical arteries and veins were observed through the cranial window with a microscope before and up to 10 min after the injection. At 24 h, the stenotic and obstructive cortical arteries and veins were counted. After 6 min, 60% of rats in the V group showed vasodilatation, whereas all rats in the SAH group demonstrated vasodilation and vasoconstriction (arterial instability) within 10 min. Similar acute venous congestive changes were observed within 10 min in the V and SAH groups. At 24 h, stenotic and obstructive arteries and veins were observed in the SAH group. Neurological deteriorations were observed at 1 h in the V and SAH groups, and at 23 h in the SAH group. The sham-operated group showed no evident vascular changes and neurological deterioration. The same phenomena, including arterial changes after 6 min and immediate venous changes in the V and SAH groups, may have resulted from ICP increase, whereas subarachnoid blood-related factors produced arterial instability within 5 min after blood injection. Subarachnoid blood plays a significant role in hyperacute SAH pathophysiology in addition to ICP increase.