Hyperpolarized (HP) ¹²⁹Xe MRI uniquely images pulmonary ventilation, gas exchange, and terminal airway morphology rapidly and safely, providing novel information not possible using conventional imaging modalities or pulmonary function tests. As such, there is mounting interest in expanding the use of biomarkers derived from HP ¹²⁹Xe MRI as outcome measures in multi‐site clinical trials across a range of pulmonary disorders. Until recently, HP ¹²⁹Xe MRI techniques have been developed largely independently at a limited number of academic centers, without harmonizing acquisition strategies. To promote uniformity and adoption of HP ¹²⁹Xe MRI more widely in translational research, multi‐site trials, and ultimately clinical practice, this position paper from the ¹²⁹Xe MRI Clinical Trials Consortium (https://cpir.cchmc.org/XeMRICTC) recommends standard protocols to harmonize methods for image acquisition in HP ¹²⁹Xe MRI. Recommendations are described for the most common HP gas MRI techniques—calibration, ventilation, alveolar‐airspace size, and gas exchange—across MRI scanner manufacturers most used for this application. Moreover, recommendations are described for ¹²⁹Xe dose volumes and breath‐hold standardization to further foster consistency of imaging studies. The intention is that sites with HP ¹²⁹Xe MRI capabilities can readily implement these methods to obtain consistent high‐quality images that provide regional insight into lung structure and function. While this document represents consensus at a snapshot in time, a roadmap for technical developments is provided that will further increase image quality and efficiency. These standardized dosing and imaging protocols will facilitate the wider adoption of HP ¹²⁹Xe MRI for multi‐site pulmonary research.