The five precepts (Sanskrit: pañcaśīla; Pali: pañcasīla) or five rules of training (Sanskrit: pañcaśikṣapada; Pali: pañcasikkhapada) is the most important system of morality for Buddhist lay people. They constitute the basic code of ethics to be respected by lay followers of Buddhism. The precepts are commitments to abstain from killing living beings, stealing, sexual misconduct, lying and intoxication. Within the Buddhist doctrine, they are meant to develop mind and character to make progress on the path to enlightenment. They are sometimes referred to as the Śrāvakayāna precepts in the Mahāyāna tradition, contrasting them with the bodhisattva precepts. The five precepts form the basis of several parts of Buddhist doctrine, both lay and monastic. With regard to their fundamental role in Buddhist ethics, they have been compared with the Ten Commandments in Abrahamic religions or the ethical codes of Confucianism. The precepts have been connected with utilitarianist, deontological and virtue approaches to ethics, though by 2017, such categorization by western terminology had mostly been abandoned by scholars. The precepts have been compared with human rights because of their universal nature, and some scholars argue they can complement the concept of human rights.

The five precepts were common to the religious milieu of 6th-century BCE India, but the Buddha's focus on awareness through the fifth precept was unique. As shown in Early Buddhist Texts, the precepts grew to be more important, and finally became a condition for membership of the Buddhist religion. When Buddhism spread to different places and people, the role of the precepts began to vary. In countries where Buddhism had to compete with other religions, such as China, the ritual of undertaking the five precepts developed into an initiation ceremony to become a Buddhist layperson. On the other hand, in countries with little competition from other religions, such as Thailand, the ceremony has had little relation to the rite of becoming Buddhist, as many people are presumed Buddhist from birth.

Undertaking and upholding the five precepts is based on the principle of non-harming (Pāli and Sanskrit: ahiṃsa). The Pali Canon recommends one to compare oneself with others, and on the basis of that, not to hurt others. Compassion and a belief in karmic retribution form the foundation of the precepts. Undertaking the five precepts is part of regular lay devotional practice, both at home and at the local temple. However, the extent to which people keep them differs per region and time. People keep them with an intention to develop themselves, but also out of fear of a bad rebirth.

In modern times, traditional Buddhist countries have seen revival movements to promote the five precepts. As for the West, the precepts play a major role in Buddhist organizations. They have also been integrated into mindfulness training programs, though many mindfulness specialists do not support this because of the precepts' religious import. Lastly, many conflict prevention programs make use of the precepts.

Buddhist scriptures explain the five precepts as the minimal standard of Buddhist morality. It is the most important system of morality in Buddhism, together with the monastic rules. Śīla (Sanskrit; Pali: sīla) is used to refer to Buddhist precepts, including the five. But the word also refers to the virtue and morality which lies at the foundation of the spiritual path to enlightenment, which is the first of the three forms of training on the path. Thus, the precepts are rules or guidelines to develop mind and character to make progress on the path to enlightenment. The five precepts are part of the right speech, action and livelihood aspects of the Noble Eightfold Path, the core teaching of Buddhism. Moreover, the practice of the five precepts and other parts of śīla are described as forms of merit-making, means to create good karma. The five precepts have been described as social values that bring harmony to society, and breaches of the precepts described as antithetical to a harmonious society. On a similar note, in Buddhist texts, the ideal, righteous society is one in which people keep the five precepts.

Comparing different parts of Buddhist doctrine, the five precepts form the basis of the eight precepts, which are lay precepts stricter than the five precepts, similar to monastic precepts. Secondly, the five precepts form the first half of the ten or eleven precepts for a person aiming to become a Buddha (bodhisattva), as mentioned in the Brahmajala Sūtra of the Mahāyāna tradition. Contrasting these precepts with the five precepts, the latter were commonly referred to by Mahāyānists as the śrāvakayāna precepts, or the precepts of those aiming to become enlightened disciples (Sanskrit: arhat; Pali: arahant) of a Buddha, but not Buddhas themselves. The ten–eleven bodhisattva precepts presuppose the five precepts, and are partly based on them. The five precepts are also partly found in the teaching called the ten good courses of action, referred to in Theravāda (Pali: dasa-kusala-kammapatha) and Tibetan Buddhism (Sanskrit: daśa-kuśala-karmapatha; Wylie: dge ba bcu). Finally, the first four of the five precepts are very similar to the most fundamental rules of monastic discipline (Pali: pārajika), and may have influenced their development.

In conclusion, the five precepts lie at the foundation of all Buddhist practice, and in that respect, can be compared with the Ten Commandments in Christianity and Judaism or the ethical codes of Confucianism.

The five precepts were part of Early Buddhism and are common to nearly all schools of Buddhism. In Early Buddhism, the five precepts were regarded as an ethic of restraint, to restrain unwholesome tendencies and thereby purify one's being to attain enlightenment. The five precepts were based on the pañcaśīla, prohibitions for pre-Buddhist Brahmanic priests, which were adopted in many Indic religions around 6th century BCE. The first four Buddhist precepts were nearly identical to these pañcaśīla, but the fifth precept, the prohibition on intoxication, was new in Buddhism: the Buddha's emphasis on awareness (Pali: appamāda) was unique.