Although research suggests that LGBTQ youth are at risk for victimization at school, it remains unclear just how much more likely they are to be victimized relative to heterosexual or cisgender youth, or the conditions under which their risks for victimization are highest. Accordingly, we conducted a meta-analysis on the relationship between LGBTQ identification and school victimization. Multilevel analysis of 276 effect size estimates, from 55 studies, revealed a moderate overall mean effect size (r = 0.155). Moderator analyses indicated the relationship was stronger for transgender youth, homophobic victimization, and students in the Western United States; and weaker for questioning youth. We conclude with recommendations for policy and future research, and suggest that theories of victimization be broadened to better explain the risks that LGBTQ students face.