The `__eq__` method in Python is a special function used to define how two objects are compared for equality. When you use the equality operator (`==`) between two instances of a class, Python calls the `__eq__` method to determine if they are considered equal. By default, this method checks if the two objects are the same instance, but you can override it to compare specific attributes of the objects. To implement `__eq__`, you define it within your class and specify the logic for comparison. For example, if you have a class called Person with attributes like name and age, you can customize `__eq__` to return `True` if both the name and age of two Person objects are the same. This allows for more meaningful comparisons based on the data contained within the objects.