The customized bus operating mode based on passenger demand is an effective way to solve the problem of bus services in low travel density areas such as urban fringe areas, ensure the profitability of bus enterprises, and promote the development of customized bus and other emerging bus. First, this study introduces the concept and operating principle of customized bus, determines the advantages and disadvantages of customized bus, evaluates the relevant theories of customized bus lines and station planning, and determines the principles of customized bus lines and station planning. Second, according to the characteristics of customized bus, this study proposes a novel customized bus line and station planning method completely based on passenger travel demand, including travel demand data processing, traffic community division, joint station planning, the establishment of a customized bus line planning model, and the solution of the planning model. Finally, the proposed planning method and improved ant colony optimization and clustering are verified by simulation experiments. The experimental results show that the station line planning method proposed in this paper can better realize the line planning of demand-responsive customized bus as well as meet diverse passenger travel needs.