School-based victimization is associated with poorer developmental, academic, and health outcomes. This meta-analytic review compared the mean levels of school-based victimization experienced by sexual minority youth to those of heterosexual youth, and examined moderators of this difference. Results from 18 independent studies (N = 56,752 participants) suggest that sexual minority youth experience moderately higher levels of school-based victimization compared to heterosexual youth (d = 0.33). This effect varied by two study characteristics: the average effect size increased over time and was larger in studies that had a greater proportion of male participants. Results highlight the need for future research on school-based victimization to include measures of sexual orientation and for interventions to include a component that addresses sexual orientation.