The Intermediate Value Theorem states that if a continuous function, f(x), takes on two values, f(a) and f(b), at points a and b, then it must also take on every value between f(a) and f(b) at some point within the interval [a, b]. This means that there are no gaps in the values the function can achieve. For example, if f(a) = 2 and f(b) = 5, the theorem guarantees that there exists at least one point c in the interval [a, b] where f(c) equals any value between 2 and 5. This property is essential in calculus and helps in understanding the behavior of continuous functions.