The Pandas library provides easy-to-use data structures and analysis tools for Python. It uses NumPy and allows import of data into Series (one-dimensional arrays) and DataFrames (two-dimensional labeled data structures). Data can be accessed, filtered, and manipulated using indexing, booleans, and arithmetic operations. Pandas supports reading and writing data to common formats like CSV, Excel, SQL, and can help with data cleaning, manipulation, and analysis tasks.