We examined avian predation risk of juvenile steelhead trout (Oncorhynchus mykiss) migrating through the Columbia River Estuary in relation to their osmoregulatory physiology, body length, rearing conditions (hatchery or wild), migration timing, and migration year. From 2003 to 2006, mean gill Na+, K+ ATPase activity of migrating wild steelhead was greater than hatchery steelhead. Hatchery steelhead were always longer than wild steelhead. Wild steelhead never had higher plasma [Na+] or osmolality levels than hatchery fish after seawater challenge trials conducted in 2004, 2005, and 2006. More passive integrated transponder (PIT) tags from hatchery fish (19%; 126 of 678 fish) were detected on East Sand Island among bird nesting colonies than PIT tags of wild fish (14%; 70 of 509 fish), presumably consumed by birds. As gill Na+, K+ ATPase activity and migration date within a year increased, the probability of an individual fish being eaten by an avian predator decreased. Length, rear type, and year were not related to predation risk. These results show that physiology and migration timing of juvenile steelhead play an important role in a migrants risk to avian predation within an estuary.