With the acceleration of global economic growth, the rate of people"s constant demand for the ecological environment exceeds that at which the ecological environment can provide services or resources. Thus, the global ecological environment is deteriorating. In order to inform people of the importance of the various services that ecosystems provide to humans, the value of ecosystem services, known as the natural capital, is extremely important. It is necessary to understand the current status quo and hotspots of current research on natural capital in order to facilitate further research on the topic. In this study, literature on natural capital from the Web of Science database was used the data source. This study uses bibliometrics to analyze the quantitative changes in the literature over the years, identify the main research forces and high-yield authors in the world, and explore the current research status. Then, Bibexcel software was used to obtain a co-word matrix of high-frequency keywords, and UCINET and NetDraw were imported to form the co-occurrence network view and cluster the keywords. The research shows that (1) the amount of natural capital literature is generally on the rise, and research can be roughly divided into three stages: germination development, accelerated development, and mature development. There are different emphases in the different research stages. (2) From the perspective of research strength, the influence of developed countries is obviously stronger than that of developing countries, and the United States is in a leading position. China has had a late start to this field; its influence is small, and international cooperation needs to be strengthened. (3) According to the co-word analysis, the valuation of ecosystem services and sustainable development are the current research hotspots; (4) By cluster analysis, the high-frequency keywords are divided into four categories: the vulnerability and adaptation of the ecosystem, capital economy and natural resources, ecosystem services, and capital economic management. According to the analysis results, this study speculates five possible tendencies for natural capital research: studies on valued ecosystem services, the InVEST model, development of green economy and its transformation, studies on different and small scale areas, and dynamic studies based on mathematics models. In addition, China still needs to improve its research capabilities, strengthen international cooperation, and increase its influence on research related to natural capital.