The `print()` function in Python is used to display output to the console. It takes one or more arguments, which can be strings, numbers, or other data types, and converts them into a readable format. By default, `print()` adds a newline after each call, but this behavior can be modified using parameters. You can also customize the output of `print()` by using parameters like `sep` and `end`. The `sep` parameter defines how multiple arguments are separated, while the `end` parameter specifies what is printed at the end of the output. This flexibility makes `print()` a versatile tool for displaying information in Python programs.