Abstract Many citizen scientists are highly motivated to help address the current extinction crisis. Their work is making valuable contributions to protecting species by raising awareness, identifying species occurrences, assessing population trends, and informing direct management actions, such as captive breeding. However, clear guidance is lacking about how to use existing citizen science data sets and how to design effective citizen science programs that directly inform extinction risk assessments and resulting conservation actions based on the International Union for Conservation of Nature (IUCN) Red List criteria. This may be because of a mismatch between what citizen science can deliver to address extinction risk and the reality of what is needed to inform threatened species listing based on IUCN criteria. To overcome this problem, we examined each IUCN Red List criterion (A–E) relative to the five major types of citizen science outputs relevant to IUCN assessments (occurrence data, presence–absence observations, structured surveys, physical samples, and narratives) to recommend which outputs are most suited to use when applying the IUCN extinction risk assessment process. We explored real‐world examples of citizen science projects on amphibians and fungi that have delivered valuable data and knowledge for IUCN assessments. We found that although occurrence data are routinely used in the assessment process, simply adding more observations of occurrence from citizen science information may not be as valuable as inclusion of more nuanced data types, such as presence–absence data or information on threats from structured surveys. We then explored the characteristics of citizen science projects that have already delivered valuable data to support assessments. These projects were led by recognized experts who champion and validate citizen science data, thereby giving greater confidence in its accuracy. We urge increased recognition of the value of citizen science data within the assessment process.