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Power system planning is essential for ensuring development of a safe and stable power system. Articles on power system planning have been published in recent decades. In this paper, bibliometric analysis is applied to power system planning to identify its basic characteristics, and to summarize the research hotspots and trends. A total of 4562 publications were obtained from the Web of Science during 1971–2020. The 4562 publications cover 8136 keywords, 1526 journals, 107 countries/territories, and 2519 institutions. IEEE Transactions on Power Systems is the key journal in power system planning; USA, China, and England are the countries that dominate publication production. Research hotspots and trends were analyzed using author-keyword co-occurrence analysis and keyword burst detection. Four clusters were identified and topics from Cluster I (central nodes as power system stability and transient stability) and Cluster IV (central nodes as power system simulation and economics) are important for power system planning research. However, their relative popularities have declined over the past two decades. This indicates that Cluster II (central nodes as renewable energy, wind power, and energy storage) and Cluster III (central nodes as distributed generation and smart grids) will be the focus of future research. [ABSTRACT FROM AUTHOR]