Polygala sfikasiana is endemic to Greece, where it occurs in the florist region Peloponisos (Pe). Currently, it is known from only two localities on the southeast part of Peloponisos, with an area of occupancy (AOO) of 8 km². There is no information available on its population size, trends, wider distribution or threats. Extensive research is recommended in order to re-evaluate its status in future. Currently, the species meets the thresholds for criteria B2a, it almost qualifies for being threatened, therefore it can be assessed as Near Threatened.

The species is endemic to the florist region (Peloponisos) of Greece, where it is known from two localities on the southeast part of Peloponisos (A. Strid pers. comm. - Flora Hellenica Database, accessed December 2022): one locality in the southeastern part of Peloponisos (Oros Gaidourovouni), and the other in the area near the Moni Elonis.

The species is currently known to occur in only two locations. There is no information available on its population size (A. Strid, pers. comm.). There have not been any studies to evaluate population trend.

This species is a Hemicryptophyte (a herbaceous perennial plant), which occurs on xeric Mediterranean phrygana and grasslands (Dimopoulos et al. 2020).

Polygala sfikasiana is not known to be under any threat in its natural habitat.

The species is not utilised.

The known localities for this species are both within Natura 2000 sites: codes GR2520005 (Moni Elonas and Charadra Leonidiou - Spilaio Mana and Galazia Limni) and GR2540001 (Ori Gidovouni, Chionovouni, Gaidourovouni, Korakia, Kalogerovouni, Koulochera and periochi Monemvasias SpilaioSolomou Trypa and Pyrgos Ag. Stefanou. and Thalassia zoni eos Akrotirio Kamili).

In order to estimate the population size and its distribution, surveys are needed for this species and population monitoring is necessary to evaluate trends.