It is located in the central south of the island chain, immediately south of Hamilton Harbor on the main island. It is joined to Warwick Parish in the southwest, and Devonshire Parish in the northeast. As with most of Bermuda's parishes, it covers just over 2.3 square miles (about 6.0 km² or 1500 acres).

Natural features in Paget include Hamilton Harbor, Coral Beach, Elbow Beach, and Grape Bay, as well as Salt Kettle, a peninsula which protects the approach to Hamilton Harbour, and Hinson's Island, which though geographically closer to Warwick Parish, is part of Paget.The islands only hospital, King Edward VII Memorial, is in Paget.

Other notable features of Paget include the Bermuda College and the Bermuda Division of the British Red Cross.