HTML5 Canvas is a powerful feature in web development that allows for dynamic, scriptable rendering of 2D shapes and bitmap images. It provides a blank rectangular area on a web page where developers can draw graphics using JavaScript. This makes it ideal for creating animations, games, and interactive visualizations. The canvas element is part of the HTML5 specification and is supported by all modern web browsers. Developers can manipulate the canvas using the Canvas API, which includes methods for drawing lines, shapes, text, and images. This flexibility enables rich visual content without relying on external plugins.