The IUCN Red List status of Black-and-White Owl is Least Concern due to its large range (990,000 km²), stable population, and population size (50,000-499,999) which do not meet the threshold for a vulnerable classification (BirdLife International 2014). Black-and-white Owl it is a species of high concern, however, to Partners in Flight (Berlanga et al. 2010); based on determinations of habitat loss, Berlanga et al. (2010) estimated that 50% or more of its population has been lost in Mexico during the last century. Other sources also consider it uncommon and even rare throughout its range (Gerhardt et al. 1994, Enríquez and Rangel-Salazar 1995).

Black-and-White Owl is dependent on threatened tropical evergreen forest habitats. The primary threats to this species are habitat conversion for agriculture and livestock production.