Pt chemical shifts were calculated from two-component relativistic density functional theory (DFT). The shielding tensors were analyzed by using a recently developed method to decompose the spin-orbit DFT results into contributions from spin-free localized orbitals (here: natural localized molecular orbitals (NLMOs) and natural bond orbitals (NBOs)). Seven chemical shifts in six Pt complexes with Pt oxidation states II, III, and IV; and halide, amino, and amidate ligands were analyzed, with particular focus on the role of nonbonding Pt 5d orbitals. A simple d-orbital 'rotation' model has been used to rationalize some of the observed trends such as the main difference between Pt(II) and Pt(IV) chemical shifts. The localized orbital analysis data showed that most of this difference as well as trends among different Pt complexes with similar coordination can be rationalized by comparing properties of the nonbonding Pt 5d orbitals. We have also analyzed the spin-orbit effects on the chemical shifts of [PtCl4](2-) compared to [PtBr4](2-).