Although the population of the Snowcap appears to be decreasing, the decline is not rapid enough to approach the threshold of becoming Vulnerable. In addition, it has a large geographical range leading the IUCN Red List conservation status for Snowcap to be rated as Least Concern (Birdlife International 2012). Snowcap is included in Appendix II of CITES, as is the case with all hummingbirds, regardless of rarity (except for Hook-billed Hermit Glaucis dohrnii, which is on Appendix I of CITES).

Due to ongoing habitat loss, the Snowcap is believed to be declining locally. In Costa Rica, severe deforestation threatens many parts of its range, though, remains locally common in other areas.