Abstract European freshwater pearl mussels are among the most critically threatened bivalve molluscs. Margaritifera margaritifera and Margaritifera durrovensis are endangered, and both occur in Ireland and are currently listed separately in Annex II of the European Habitats Directive. This study had the objective of guiding the conservation of freshwater pearl mussels in Ireland based on a genetic characterization of the most important Irish populations of both species using microsatellite and mitochondrial DNA (mtDNA) analyses. Margaritifera durrovensis from the Nore was found to have the highest genetic divergence from all the populations studied; however, there was substantial relatedness between the genetic constitution of the Nore and of central–eastern M. margaritifera populations, placing the Nore pearl mussel within the M. margaritifera taxon (Habitats Directive species code 1029). Two main conservation units of pearl mussel were identified: a mostly salmon‐dependent western cluster and a trout‐dependent central–eastern cluster. The genetic diversity of western Irish freshwater pearl mussels, as expressed by allelic richness and observed heterozygosity, was greater by a factor of two than in central European and central–eastern Irish populations, suggesting a genetic diversity hot spot and low effects of genetic drift and selection. The trout‐dependent central and eastern populations had much lower genetic variability, but had the greatest differentiation and uniqueness. Conservation of freshwater pearl mussels in Ireland should recognize the existence of a minimum of two conservation units (western and central–eastern) that differ in their use of host fish and in geographic isolation. Low levels of genetic drift and inbreeding in western populations should be secured by sustaining optimal habitat conditions favourable for the recruitment of mussels and their migratory salmonid hosts. The small population sizes of central–eastern populations and problems with recruitment require urgent action, e.g. by captive breeding and augmentation, to prevent any further erosion of their genetic variability.