Conservation translocations (reintroductions, reinforcements, ecological replacements, and assisted colonization) have played a vital and necessary role in conserving endangered species and ecosystems. Yet concerns over potential unintended ecological consequences frequently hinder the progress of translocation activities. We reviewed the history of U.S. translocations to ask: how often were intended benefits the result versus harmful unintended consequences? We found that translocations played a key role in recovery for 30% (14 of 47) of U.S. delisted taxa. Translocations have been performed, are planned, or are part of continuing recovery actions for 70% (1,112 of 1,580) of listed threatened and endangered taxa. Of the 1,014 total taxa we found with recorded conservation translocations spanning 125 years, we found only one restricted instance that caused a loss of biodiversity. All other reports of negative consequences were caused by translocations performed for economic and cultural interests in the absence of conservation‐based governance. Examples included fish stocking for sport and biological control programs for agricultural pests. We included biological control programs in this analysis because they can be and often are used as conservation tools, to directly benefit ecosystems. In addition, they are often raised as examples of harmful unintended results during the conservation planning process. However, only 1.4% (42) of 3,014 biological control agents released globally have caused ecosystem‐level deleterious impacts. All of these were initially released before the 1980s and conservation‐based practice and governance in recent decades have reduced off‐target impacts from biological control practice. Two themes emerged from our review: (a) conservation translocations routinely yielded their intended benefits without producing unintended harm, and (b) when ecological damage did occur, it was in the absence of conservation practice and regulation. This evidence shows that well‐planned translocation efforts produce ecosystem benefits, which should be weighed against the costs of inaction when deliberating conservation strategies.