Eight Planets and New Solar System Designations . ... Credit Copyright: International Astronomical Union Explanation: How many planets are in the Solar System? This popular question now has a new formal answer according the International Astronomical Union (IAU): eight. Last week, the IAU voted on a new definition for planet and Pluto did not make the cut. Rather, Pluto was re-classified as a dwarf planet and is considered as a prototype for a new category of trans-Neptunian objects . ...