Vassiliev Invariants are a type of mathematical invariant used in the study of knots and links in topology. They provide a way to classify knots by assigning numerical values to them based on their properties. These invariants are derived from the idea of considering how knots can be transformed through a series of simple operations without changing their essential structure. The significance of Vassiliev Invariants lies in their ability to capture information about knots at various levels of complexity. They are particularly useful in distinguishing between different knots and understanding their relationships. This makes them an important tool in the field of knot theory, which explores the properties and classifications of knots.