There are several algorithms that decide in polynomial time whether a graph can be drawn in the plane or not, even many with a linear running time. However, I could not find a very simple algorithm that one could easily and fast explain in class and would show that PLANARITY is in P. Do you know any?
If necessary, you can use Kuratowski's or Fary's theorem but no deep stuff, like the graph minor theorem. Also note that I do not care about the running time, I just want something polynomial.
Below are the so far 3 best algorithms, showing a simplicity/no-deep-theory-needed trade-off.
Algorithm 1: Using that we can check whether a graph contains a $K_5$ or a $K_{3,3}$ as a minor in polynomial time, we get a very simple algorithm using deep theory. (Note that this theory already uses graph embeddings, as pointed by Saeed, so this is not a real algorithmic approach, just something simple to tell students who already knew/accepted the graph minor theorem.)
Algorithm 2 [based on someone's answer]: It is easy to see that it is enough to deal with 3-connected graphs. For these, find a face and then apply Tutte's spring theorem.
Algorithm 3 [recommended by Juho]: Demoucron, Malgrange and Pertuiset (DMP) algorithm. Draw a cycle, components of remaining graph are called fragments, we embed them in a suitable way (meanwhile creating new fragments). This approach uses no other theorems.