Planetary habitability is a measure used in astrobiology to characterize a planet's or a natural satellite's potential to develop and sustain an environment hospitable to life. The Planetary Habitability Laboratory maintains a catalog of potentially habitable exoplanets.

Research suggests that life on a planetary body may develop through abiogenesis or be transferred from one body to another, through a hypothetical process known as panspermia. Environments do not need to contain life to be considered habitable nor are accepted habitable zones (HZ) the only areas in which life might arise.

As the existence of life beyond Earth is not known, planetary habitability is largely an extrapolation of conditions on Earth and the characteristics of the Sun and Solar System which appear favorable to life's flourishing. Of particular interest are those factors that have sustained complex, multicellular organisms on Earth and not just simpler, unicellular creatures. Research and theory in this regard is a component of a number of natural sciences, such as astronomy, planetary science, and the emerging discipline of astrobiology.

An absolute requirement for life is an energy source, and the notion of planetary habitability implies that many other geophysical, geochemical, and astrophysical criteria must be met before an astronomical body can support life. In its astrobiology roadmap, NASA has defined the principal habitability criteria as "extended regions of liquid water, conditions favorable for the assembly of complex organic molecules, and energy sources to sustain metabolism". In August 2018, researchers reported that water worlds could support life.

Habitability indicators and biosignatures must be interpreted within a planetary and environmental context. In determining the habitability potential of a body, studies focus on its bulk composition, orbital properties, atmosphere, and potential chemical interactions. Stellar characteristics of importance include mass and luminosity, stable variability, and high metallicity. Rocky, wet terrestrial-type planets and moons with the potential for Earth-like chemistry is a primary focus of astrobiological research. However, more speculative habitability theories occasionally examine alternative biochemistries and other types of astronomical bodies.

The idea that planets beyond Earth might host life is an ancient one, though historically it was framed by philosophy as much as physical science. The late 20th century saw two breakthroughs in the field. The observation and robotic spacecraft exploration of other planets and moons within the Solar System has provided critical information on defining habitability criteria and allowed for substantial geophysical comparisons between the Earth and other bodies. The discovery of exoplanets, beginning in the early 1990s and accelerating thereafter, has provided further information for the study of possible extraterrestrial life. These findings confirm that the Sun is not unique among stars in hosting planets and expands the habitability research horizon beyond the Solar System.

While Earth is the only place in the Universe known to harbor life, estimates of habitable zones around other stars, along with the discovery of thousands of exoplanets and new insights into the extreme habitats on Earth where organisms known as extremophiles live, suggest that there may be many more habitable places in the Universe than considered possible until very recently. On 4 November 2013, astronomers reported, based on Kepler space mission data, that there could be as many as 40 billion Earth-sized planets orbiting in the habitable zones of Sun-like stars and red dwarfs within the Milky Way. 11 billion of these estimated planets may be orbiting Sun-like stars. The nearest such planet may be 12 light-years away, according to the scientists. As of June 2021, a total of 59 potentially habitable exoplanets have been found.

An understanding of planetary habitability begins with the host star. The classical habitable zone (HZ) is defined for surface conditions only; but a metabolism that does not depend on the stellar light can still exist outside the HZ, thriving in the interior of the planet where liquid water is available.