Planar tracking has drawn increasing interest owing to its key roles in robotics and augmented reality. Despite recent great advancement, further development of planar tracking, particularly in the deep learning era, is largely limited compared to generic tracking due to the lack of large-scale platforms. To mitigate this, we propose PlanarTrack, a large-scale high-quality and challenging benchmark for planar tracking. Specifically, PlanarTrack consists of 1,150 sequences with over 733K frames, including 1,000 short-term and 150 new long-term videos, which enables comprehensive evaluation of short- and long-term tracking performance. All videos in PlanarTrack are recorded in unconstrained conditions from the wild, which makes PlanarTrack challenging but more realistic for real-world applications. To ensure high-quality annotations, each video frame is manually annotated by four corner points with multi-round meticulous inspection and refinement. To enhance target diversity of PlanarTrack, we only capture a unique target in one sequence, which is different from existing benchmarks. To our best knowledge, PlanarTrack is by far the largest and most diverse and challenging dataset dedicated to planar tracking. To understand performance of existing methods on PlanarTrack and to provide a comparison for future research, we evaluate 10 representative planar trackers with extensive comparison and in-depth analysis. Our evaluation reveals that, unsurprisingly, the top planar trackers heavily degrade on the challenging PlanarTrack, which indicates more efforts are required for improving planar tracking. Our data and results will be released at https://github.com/HengLan/PlanarTrack