This paper presents a physically based numerical model to simulate droplet impact, spreading, and eventually rebound of a viscoelastic droplet. The simulations were based on the volume of fluid (VOF) method in conjunction with a dynamic contact model accounting for the hysteresis between droplet and substrate. The non-Newtonian nature of the fluid was handled using FENE-CR constitutive equations which model a polymeric fluid based on its rheological properties. A comparative simulation was carried out between a Newtonian solvent and a viscoelastic dilute polymer solution droplet. Droplet impact analysis was performed on hydrophilic and superhydrophobic substrates, both exhibiting contact angle hysteresis. The effect of substrates’ wettability on droplet impact dynamics was determined the evolution of the spreading diameter. While the kinematic phase of droplet spreading seemed to be independent of both the substrate and fluid rheology, the recoiling phase seemed highly influenced by those operating parameters. Furthermore, our results implied a critical polymer concentration in solution, between 0.25 and 2.5% of polystyrene (PS), above which droplet rebound from a superhydrophobic substrate could be curbed. The present model could be of particular interest for optimized 2D/3D printing of complex fluids.