Ivana Baquero made her big-screen debut in the 2004 Spanish-Italian-British horror film ‘Romasanta’ directed by Paco Plaza. The film received mostly positive reviews from critics. The same year, she was also seen in the Brian Yuzna-directed science fiction horror film ‘Rottweiler’ where she played the role of ‘Esperanza.’ According to Allmovie, the film was "a killer cyborg dog flick that's filled with more sleeping pills than chilling thrills." In 2005, she starred as ‘Mandy’ in the Spanish-British horror film ‘Fragile’ directed by Jaume Balagueró. The film premiered at the Venice Film Festival. Baquero next portrayed ‘Ofelia/Princess Moanna’ in the 2006 Spanish-Mexican dark fantasy film ‘Pan's Labyrinth’ directed by Guillermo del Toro. The film saw critical acclaim upon release and grossed over $83.9 million on a budget of $19 million. Baquero also won several awards, including the ‘Saturn Award’ and the ‘Imagen Award,’ for her performance in the film. She was next seen in films like ‘The Anarchist's Wife’ (2008), ‘The New Daughter’ (2009), ‘Another Me’ (2013), ‘Gelo’ (2014), and ‘The Misfits Club’ (2014).
In 2016, she joined the main cast of the American fantasy drama television series ‘The Shannara Chronicles’ where she portrayed ‘Eretria.’ The series ran for 2 seasons and aired its final episode in 2017. She next starred as ‘Aurora’ in the 2017 Spanish-Colombian incest-themed erotic drama film ‘Sister of Mine’ directed by Pedro Aguilera. The film received a positive response from critics. In 2019, she grabbed the role of ‘Eva Villanueva’ in the Spanish mystery series ‘High Seas’ created by Ramón Campos and Gema R. Neira. The show aired 22 episodes in a span of 3 seasons before going off-air in 2020. She was last seen in the 2021 American horror comedy film ‘Black Friday’ directed by Casey Tebo The film received mostly positive reviews from critics and earned a 65% approval rating on Rotten Tomatoes.