The Liar's Paradox is a statement that contradicts itself, often illustrated by the phrase, "This statement is false." If the statement is true, then it must be false as it claims. Conversely, if it is false, then it must be true. This creates a logical inconsistency that challenges our understanding of truth and falsehood. This paradox has been discussed by philosophers like Epimenides and Bertrand Russell, who explored its implications for logic and language. It raises questions about self-reference and the nature of truth, prompting deeper investigations into how we define and understand statements in philosophy and mathematics.