In this paper, we study the dynamical behavior and exact parametric representations of all traveling wave solutions for (2 + 1)-dimensional higher order Broer–Kaup equation. By using the method of dynamical systems, under different parametric conditions, for the solution component U, exact monotonic and nonmonotonic kink wave solutions, two-peak wave solutions, periodic wave solutions, as well as unbounded traveling wave solutions are obtained. Exact wave profiles of traveling wave solutions for all solution components U, V, W, P are shown.