Object placement aims to insert a foreground object into a background image with a suitable location and size to create a natural composition. To predict a diverse distribution of placements, existing methods usually establish a one-to-one mapping from random vectors to the placements. However, these random vectors are not interpretable, which prevents users from interacting with the object placement process. To address this problem, we propose an Interactive Object Placement method with Reinforcement Learning, dubbed IOPRE, to make sequential decisions for producing a reasonable placement given an initial location and size of the foreground. We first design a novel action space to flexibly and stably adjust the location and size of the foreground while preserving its aspect ratio. Then, we propose a multi-factor state representation learning method, which integrates composition image features and sinusoidal positional embeddings of the foreground to make decisions for selecting actions. Finally, we design a hybrid reward function that combines placement assessment and the number of steps to ensure that the agent learns to place objects in the most visually pleasing and semantically appropriate location. Experimental results on the OPA dataset demonstrate that the proposed method achieves state-of-the-art performance in terms of plausibility and diversity.