Syntax Analysis is a crucial step in the process of understanding programming languages. It involves breaking down the structure of code to ensure that it follows the rules of grammar defined by the language. This helps identify any errors in the code that could prevent it from running correctly. During Syntax Analysis, the code is transformed into a tree-like structure called a Parse Tree. This tree represents the hierarchical relationships between different elements of the code, making it easier for compilers and interpreters to process and execute the instructions accurately.