Abstract: A pontoon boat has a planing panel located between pontoons and configured such that a substantial portion of the planing panel planes or rides on top of the water while the boat is traveling at planing speeds, thus reducing friction and increasing efficiency and maneuverability. The boat may be a “tritoon” boat having three laterally spaced pontoons, in which case at least two planing panels are provided in the spaces or gaps between each pair of adjacent pontoons. Each planing panel may be segmented from front to rear, with the rear segment(s) being higher than the front segment to enhance the ability of the bow of the boat to ride out of the water while preventing water from impinging against the rear of the boat's underdeck. An inclined panel may be provided in front of the planing panel to reduce wave impact energy.