System and method for locating and identifying nerves innervating the wall of arteries such as the renal artery are disclosed. The present invention identifies areas on vessel walls that are innervated with nerves; provides indication on whether a dose of energy is delivered accurately to a targeted nerve; and provides immediate post-procedural assessment of the effect of the energy delivered to the nerve. The method includes at least the steps to evaluate a change in physiological parameters after a dose of energy is delivered to an arterial wall; and to determine the type of nerve that the energy was directed to (none, sympathetic or parasympathetic) based on the results of the evaluation. The system includes at least a device for delivering a dose of energy to the wall of an artery; sensors for detecting physiological signals from a subject; and indicators to display the results obtained using the said method.