We consider the stochastic acceleration of particles which results from resonant interactions with plasma waves in black hole magnetospheres. We calculate acceleration rates and escape timescales for protons and electrons resonating with Alfven waves, and for electrons resonating with whistlers. Assuming either a Kolmogorov or a Kraichnan wave spectrum, accretion at the Eddington limit, magnetic field strengths near equipartition, and turbulence energy densities similar to 10% of the total magnetic field energy density, we find that Alfven waves accelerate protons to Lorentz factors less than or similar to 10(4)-10(6) before they escape from the system. Acceleration of electrons by fast-mode and whistler waves can produce a nonthermal population of relativistic electrons whose maximum energy is determined by a competition with radiation losses. Particle energization and outflow is not possible at lower accretion rates, magnetic field strengths, or turbulence levels, owing to dominant Coulomb losses. Increases in the accretion luminosity relative to the Eddington luminosity can trigger particle acceleration out of the thermal background, and this mechanism could account for the differences between radio-quiet and radio-loud active galactic nuclei. Observations of outflowing radio-emitting components following transient X-ray events in Galactic X-ray novae and gamma-ray flares in blazars are in accord with this scenario.