Species of Planctoteuthis are usually rather small and very fragile deep-sea squids that are often badly damaged during capture. As a result, few species have been described. Unlike other chiroteuthids, the subadult retains the peculiar doratopsid paralarval tentacular club. Roper and Young (1967) suggest that Planktoteuthis is a neotenic doratopsis.
A chiroteuthid ...
The type species, Planctoteuthis danae, was originally placed in a new genus, Valbyteuthis, within a new family, Valbyteuthidae, by Joubin (1931). Roper and Young (1967) placed Valbyteuthis in the family Chiroteuthidae noting the similarity of Valbyteuthis paralarvae to those of Chiroteuthis. Young (1991) recognized that some paralarvae of Valbyteuthis had been previously descibed by Pfeffer (1912) as members of his new genus, Planctoteuthis, within the Chiroteuthidae. Valbyteuthis, therefore is a junior synonym of Planctoteuthis.
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The exact form of the antitragus in the funnel locking-apparatus is often a species-specific feature. Unfortunately this structure is difficult to see and lighting and angle of view can often give different apparent results. The character must be used cautiously. Compare the locking apparatuses of the following species:

The species are compared in the following table.
| Arm IV suckers, number | Arm sucker dentition, arm I-III | Antitragus | Fin length | Club shape | Club keel | Distribution | |
| P. danae | 12-13 | 7-9 distal truncated teeth | Double. Lobes nearly equal | 52% ML | Symmetrical | No | Trop. Pacific |
| P. exopthalmica = P. levimana? | 10 | ? | ? | width=36% ML | Symmetrical | No | S. Indian |
| P. levimana | 6-8 | Broad truncate teeth all around | Double. Lobes unequal | 40% ML | Long, symmetrical | No | N. Atlantic, Trop. Pacific |
| P. lippula | 25 | >50 minute teeth, distal larger | Single or slight double. Low, broad | 40-45% ML | Short, Asymmetrical | Yes | Atlantic, Trop. Pacific |
| P. oligobessa | 2-4 | 25-35 blunt teeth, distal 2/3 | Single. Slender | 23-33% ML | Symmetrical | No | Trop. Pacific |
Lower mesopelagic to bathypelagic depth distribution within tropical to temperate oceans of the world.
The doratopsis paralarva of Planctoteuthis can be recognized by:
Descriptions of paralarvae are found in pages on Planctoteuthis lippula and P. danae.
Joubin, L. 1931. Notes preliminaires sur les Cephalopodes des croiseires du "Dana" (1921-1922). Annales de l'Institut Oceanographique, 10: 169-211.
Pfeffer, G. 1912. Die Cephalopoden der Plankton-Expedition. Ergebniss der Plankton-Expedition der Humboldt-Stiftung. 2: 1-815.
Roper, C. F. E. and R. E. Young. 1967. A review of the Valbyteuthidae and an evaluation of its relationship with the Chiroteuthidae. Proc. U.S. Nat. Mus. 123: 1-9.
Young, R. E. 1972. The systematics and areal distribution of pelagic cephalopods from the seas off Southern California. Smithson. Contr. Zool., 97: 1-159.
Young, R. E. 1991. Chiroteuthid and related paralarvae from Hawaiian waters. Bull. Mar. Sci. 49: 162-185.