There are many uncertain factors that may result in incomplete diagnostic information of planetary gearboxes, such as sensor malfunctions, communication lags, and data discretization, etc. Therefore, incomplete diagnostic information of planetary gearboxes may simultaneously contain two categories of unknown attribute values. However, existing fault diagnosis methods of planetary gearboxes are hard to realize fault diagnosis using incomplete diagnostic information that simultaneously contains two categories of unknown attribute values. To overcome this issue, a fault diagnosis method of planetary gearboxes based on data-driven valued characteristic multigranulation model with incomplete diagnostic information is proposed. First, a calculation method of characteristic similarity degrees among cases is introduced, and a data-driven valued characteristic relation is defined. The data-driven valued characteristic relation is used to analyze and process incomplete diagnostic information that simultaneously contains two categories of unknown attribute values. Then, a data-driven valued characteristic multigranulation model is defined according to multigranulation model. An attribute reduction algorithm based on pessimistic data-driven valued characteristic multigranulation model is employed to extract fault diagnosis decision rules. Finally, naive Bayesian classifier is constructed to identify planetary gearbox conditions. The effectiveness of this method is validated and the advantages are investigated using a fault diagnosis experiment of planetary gearbox. Experimental results demonstrate that this method can accurately determine indiscernibility relation among cases, reduce computational complexity, and enhance fault diagnosis accuracy.