As a still popular construct in psychology which occupies the attention of many researchers, perfectionism is primarly characterized by the aspiration to achieve perfection. Numerous theorists believe that perfectionist pursuits of children are the result of imitation of parental behavior and internalization of their expectations. Previous studies have mainly investigated the relationship between parental expectations and aspirations with academic achievements of their children, while relatively small number of research focuses on the relationship between parental expectations and aspirations with some aspects of the psychological functioning of children. Therefore, the aim of this study was to examine the relationship of dimensions which form adaptive perfectionism (organization and personal standards) and those that form nonadaptive perfectionism (concern about mistakes, parental expectations, doubting of the quality of one`s actions and parental criticism) with self–esteem, test anxiety and parental educational expectations and aspirations on a sample of Croatian high school students and their parents. In addition, this study has examined potential difference in educational expectations and aspirations between mothers and fathers. The survey was conducted on a convenient sample of 136 students, of which 102 female students and 34 male students (average age 17.43 years, SD=0.63) and 136 mothers (average age 45.25 years, SD=0.63) and same number of fathers (average age 48.52 years, SD=6.32). Through this research it has been established that students with lower self– esteem are more concerned about mistakes, more suspicious when it comes to their own performance, and also they perceive parental complains higher. On the other hand, students with higher level of belief in their own competences are more organized. Moreover, students who are more anxious in test situations are also more concerned about mistakes and they doubt more about their performance. As far as educational expectations and aspirations are concerned, it is established that students form their personal standards considering mother`s expectations and aspirations, and father`s ideal aspirations. In other words, if mother`s real expectations and the ideal aspirations of both parents are higher, personal standards of their child are also higher. On the other hand, perceived parental complains are higher if mother`s real expectations are lower. Although there was no difference in real expectations among parents, given data indicates more ideal educational aspirations of fathers compared to those of mothers.