A Thread Pool is a collection of pre-initialized threads that are used to perform tasks in a concurrent programming environment. Instead of creating and destroying threads for each task, which can be resource-intensive, a thread pool allows for efficient management of multiple tasks by reusing existing threads. This helps improve performance and resource utilization in applications. When a task needs to be executed, it is submitted to the thread pool, which assigns it to an available thread. This approach minimizes the overhead associated with thread management and ensures that system resources are used effectively, making it a popular choice in frameworks like Java's ExecutorService and C#'s ThreadPool.