Intrahepatic cholestasis of pregnancy (ICP) is a reversible liver disorder that occurs during late pregnancy and is characterized by severe pruritus without skin lesions. It is caused by hormonal changes that inhibit bile salt transporters in the liver. ICP can lead to fetal complications like death, preterm delivery, and meconium staining. Management involves monitoring, supportive care, ursodeoxycholic acid, and early delivery at 37 weeks to prevent fetal risks. Maternal outcomes are generally good but symptoms often recur in subsequent pregnancies.