This study quantitatively explains the trends in educational policy research in the Annual Report, No. 1 –No. 29 and examines the challenges and future directions of “educational policy studies” through a structural topic model for the 451 articles in these 29 journals. The findings revealed that 1 ）top topics by proportion reflect the interests of the entire academic society whereas bottom topics reflect the individual interests of fellows. 2 ）The top topics demonstrated a tendency to emerge at a particular point and then decline. These results suggest that while the extension of research subjects/areas shows expansion, there is concern regarding the hollowing out of the early central areas of educational policy studies. As efforts to reconstruct a new grand theory that captures modern educational policies are crucial, we should reconsider the fact that this conception （or past theories ）is （ was ） based on theories of the educational administration study. If “educational policy studies” are required, it must develop its own theoretical system. However, considering research trends, the future direction for educational policy research should focus on interdisciplinarity. 　Keywords: Educational Policy Studies, Educational Policy Research, Structural Topic Models, Natural Language Processing, Interdisciplinarity