Performance thresholds are an important tool for determining successful conservation outcomes. They provide an objective means of defining good ecological condition and have been endorsed as an essential part of best practice in protected area (PA) management within the International Union for the Conservation of Nature Green List of Protected and Conserved Areas Standard. With a growing number of PAs attaining Green List status globally, thresholds developed by PAs on the Green List present an excellent resource with which to identify the attributes of well-defined performance thresholds. We examined 349 thresholds associated with PAs on the Green List to determine whether they were specific and measurable (i.e., factors recognized as essential for setting well-defined targets). We assessed whether thresholds were defined quantitatively and whether definitions included ambiguous terms (e.g., stable numbers). We identified six different ways thresholds were expressed and found that many thresholds were expressed as management objectives, rather than ecological condition thresholds, although this trend improved over time. Approximately one-half of the performance thresholds lacked the necessary specificity to delineate successful outcomes. Our results enabled us to develop a checklist of information required to set robust performance thresholds. Recommendations include that thresholds should be quantitatively defined, including quantitative estimates of the limits of acceptable change (LAC) around the target condition. To ensure transparency, a rationale and associated evidence should be provided to support the threshold and the LAC. When accompanied by a rationale and quantitative estimate of the current condition of the value, unambiguously defined thresholds with a quantitative LAC provide an objective means of demonstrating that successful conservation outcomes have been achieved. These recommendations will help conservation managers apply the Green List Standard and improve the measurement of conservation outcomes more broadly.