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There are many methods of detecting exoplanets. Transit photometry and Doppler spectroscopy have found the most, but these methods suffer from a clear observational bias favoring the detection of planets near the star; thus, 85% of the exoplanets detected are inside the tidal locking zone. In several cases, multiple planets have been observed around a star. About 1 in 5 Sun-like stars have an "Earth-sized" planet in the habitable zone. Assuming there are 200 billion stars in the Milky Way, it can be hypothesized that there are 11 billion potentially habitable Earth-sized planets in the Milky Way, rising to 40 billion if planets orbiting the numerous red dwarfs are included.

The least massive exoplanet known is Draugr, which is about twice the mass of the Moon. The most massive exoplanet listed on the NASA Exoplanet Archive is HR 2562 b, about 30 times the mass of Jupiter. However, according to some definitions of a planet (based on the nuclear fusion of deuterium), it is too massive to be a planet and might be a brown dwarf instead. Known orbital times for exoplanets vary from less than an hour (for those closest to their star) to thousands of years. Some exoplanets are so far away from the star that it is difficult to tell whether they are gravitationally bound to it.

Almost all of the planets detected so far are within the Milky Way. However, there is evidence that extragalactic planets, exoplanets farther away in galaxies beyond the local Milky Way galaxy, may exist. The nearest exoplanets are located 4.2 light-years from Earth and orbit Proxima Centauri, the closest star to the Sun.

The discovery of exoplanets has intensified interest in the search for extraterrestrial life. There is special interest in planets that orbit in a star's habitable zone (or sometimes called "goldilocks zone"), where it is possible for liquid water, a prerequisite for life as we know it, to exist on the surface. However, the study of planetary habitability also considers a wide range of other factors in determining the suitability of a planet for hosting life.

Rogue planets are those that do not orbit any star. Such objects are considered a separate category of planets, especially if they are gas giants, often counted as sub-brown dwarfs The rogue planets in the Milky Way possibly number in the billions or more.