The Jacobi Method is an iterative algorithm used to solve systems of linear equations. It works by decomposing a matrix into its diagonal, lower, and upper components, allowing each variable to be solved independently in each iteration. The method updates the values of the variables until they converge to a stable solution. This technique is particularly useful for large systems where direct methods, like Gaussian elimination, may be computationally expensive. The Jacobi Method is simple to implement and can be parallelized, making it suitable for modern computing environments. However, it may converge slowly compared to other iterative methods.