This study aims at proposing a novel planetary gear type inerter which has a capability of regulating the resonance and anti-resonance characteristics of the torsional vibration system, for example, reducing resonance and anti-resonance frequencies, generating new anti-resonance, etc. The ideal inerter is introduced by Smith (2002) as “a mechanical two-terminal, one-port device with the property that the equal and opposite force applied at the nodes is proportional to the relative acceleration between the nodes[1].” The proposed inerter consists of a planetary gear unit. The governing equation of the proposed inerter is derived as matrix formula. According to the theoretical analysis of the formulation in the frequency domain via Laplace transformation, the proposed inerter has the capability to tune the vibration characteristics of the torsional vibration system. Under the simplification assumptions of the system parameters, the numerical simulation results successfully demonstrate the vibration characteristics tuning capability of the proposed inerter.