Thread-Level Parallelism (TLP) refers to the ability of a computer system to execute multiple threads simultaneously. A thread is a sequence of programmed instructions that can be managed independently by a scheduler. By running multiple threads at the same time, TLP can improve the performance of applications, especially those that can be divided into smaller, concurrent tasks. Modern processors, such as those from Intel and AMD, often support TLP through features like Simultaneous Multithreading (SMT). This allows a single physical core to handle multiple threads, maximizing resource utilization and speeding up processing times for multi-threaded applications.