This paper is concerned with the bifurcation of the traveling wave solutions, as well as the dynamical behaviors and physical property of the soliton solutions of the (2+1)-dimensional extended Vakhnenko–Parkes (eVP) equation. Firstly, based on the traveling wave transformation, the planar dynamical system corresponding to the (2+1)-dimensional eVP equation is derived, and then the singularity type and trajectory map of this system are obtained and analyzed. Based on the bifurcation of this system, the analytical expression for the periodic wave solution is given and shown graphically. Secondly, the N-soliton solutions are obtained via the bilinear method, and some important physical quantities and asymptotic analysis of one-soliton and two-soliton solutions are discussed. The results obtained in this paper might be useful for understanding the propagation of high-frequency waves.