Effective management of protected areas relies on good governance. An assessment was undertaken using the standards provided by the United Nations Development Programme's characteristics of good governance for sustainable development as a starting point. Being able to assess governance based on indicators is essential for ongoing effective management through improving practice. Although indicators and evaluation frameworks are available, they do not offer protected area managers a quick, comprehensive measure of governance. We used a three-round Delphi method with a cohort of 33 managers and researchers from government and non-government organizations, and universities. This participatory research process established a set of 20 indicators addressing public participation, consensus orientation, strategic vision, responsiveness, effectiveness, efficiency, accountability, transparency, equity, and rule of law. Accompanying output measures were provided by management plans, annual reports, audits, and stakeholder engagement. The findings emphasize the contributions of management plans and annual reports in establishing evaluation requirements and providing a place where results are publicly available. Further participatory research to refine these indicators and apply them in a diversity of contexts is advocated.