Objective The clinical significance of 2 main dimensions of perfectionism (perfectionistic strivings and perfectionistic concerns) was examined via a meta‐analysis of studies investigating perfectionism in the psychopathology literature. Method We investigated relationships between psychopathology outcomes (clinical diagnoses of depression, anxiety disorders, obsessive‐compulsive disorder, and eating disorders; symptoms of these disorders; and outcomes related to psychopathology, such as deliberate self‐harm, suicidal ideation, and general distress) and each perfectionism dimension. The relationships were examined by evaluating (a) differences in the magnitude of association of the 2 perfectionism dimensions with psychopathology outcomes and (b) subscales of 2 common measures of perfectionism. Results A systematic literature search retrieved 284 relevant studies, resulting in 2,047 effect sizes that were analysed with meta‐analysis and meta‐regression while accounting for data dependencies. Conclusion Findings support the notion of perfectionism as a transdiagnostic factor by demonstrating that both dimensions are associated with various forms of psychopathology.