Australia, New Zealand, New Guinea, Wallacea, and the islands of the Pacific Ocean collectively possess 42% of the world’s parrot species, including half of all Critically Endangered species. We used comparative methods to review the factors related to extinction risk of 167 extant and 5 extinct parrot species from this region, subsequently referred to as ‘Oceania’. We tested a range of ecological and socio-economic variables as predictors of extinction risk for parrots in the region while controlling for phylogeny. Parrot species were most likely to be threatened if they had small historical ranges, large bodies, or a high dependency on forest, or if they were endemic to a single country, or native to a country with high unemployment. Our analysis identifies invasive species as an especially severe threat to the parrots of Oceania. We present maps of parrot species’ diversity and draw attention to regions of conservation concern. Our comparative analysis presents an important overview of the factors contributing to the decline of parrots in Oceania, and provides a strong basis for comparison with other parts of the world.