To explore the hotspots and development trend of research on postgraduates’ mental health in China in the past 20 years, this study used BICOMB co?word analysis software and SPSS 24.0 software to analyze the keywords of 1 226 articles about mental health of postgraduates collected from CNKI from 2000 to 2020, and drew a map of mental health research of postgraduates in China. The results show that the research focuses on the postgraduates’ mental symptoms and related factors, the problems of postgraduates’ mental health education and coping strategies, and the mental health work in the process of postgraduates’ education. In the future, we should pay attention to the universality of postgraduates’ mental health research, strengthen the exploration of postgraduates’ mental crisis and improve to construct the postgraduates’ mental health service system.