We will present the results of our observational studies of very low-mass young stellar objects (YSOs) including brown dwarfs and planetary mass objects in the nearby star-forming regions. We have performed deep near-infrared surveys that are sensitive enough to provide a census of the stellar population embedded in the clouds down to objects below the deuterium-burning limit (Oasa et al. 2006). Based on the color-color diagrams, we discriminate YSO candidates with near-infrared excesses from reddened field stars. Combining the reddening-corrected luminosity of the YSO candidates with the theoretical evolutionary models, it is likely that there exists a substantial substellar population, including many potential isolated planetary mass objects. In addition, the near-infrared spectroscopic observations of the relatively bright substellar YSO candidates have been carried out with the SUBARU telescope. Spectroscopy offers a means for more accurate assessment of cluster membership and more precise measurement of the mass. In order to estimate mass more precisely, we have measured the strength of water and constructed the reddening-independent water absorption index which is an indicator of temperature. Together the luminosity with the water index, we confirm that some YSO candidates have cool temperatures consistent with young brown dwarfs.