A graduation is the awarding of a diploma by an educational institution. It may also refer to the ceremony that is associated with it, which can also be called commencement, congregation, convocation or invocation. The date of the graduation ceremony is often called graduation day. Graduates can be referred to by their year of graduation.

Ceremonies for graduating students date from the first universities in Europe in the twelfth century. At that time, Latin was the language of scholars. A universitas was a guild of masters (such as MAs) with license to teach. The etymology of "degree" and "graduate" originates from gradus, meaning "step". The first step was admission to a bachelor's degree. The second step was the masters step, giving the graduate admission to the universitas and license to teach. Typical dress for graduation is a gown and hood, or hats adapted from the daily dress of university staff in the Middle Ages, which was in turn based on the attire worn by medieval clergy.

The tradition of wearing graduation hats in Sweden has been in place since the mid-eighteenth century. The cap is typically a white sailor hat with a black or dark blue band around it, a crown motif, and a black peak at the front. The graduation hat tradition was initially adopted by students at Uppsala University. The headgear then became popular across several other European nations as well.

Usually, the ceremony and name apply to university or college degrees: Associate's, Bachelor's, Master's and Doctoral degrees.

In a graduation ceremony for a college or university, the presiding officer or other authorized person formally confers degrees upon candidates, either individually or en masse. However, some graduates may physically receive their diploma later at a smaller college or departmental ceremonies, or even through the mail.^{[citation needed]}

Ceremonies often include a procession of some of the academic staff, candidates, and a valediction. The students typically wear formal academic dress, such as square academic caps and gowns. The academic staff will usually also wear academic dress at the ceremony, as will the trustees (if applicable).

When a student graduates without attending the graduation ceremony, then it is called graduation in absentia.

In the United States and Israel, completing high school is also referred to as "graduating", with a high school diploma or Bagrut certificate, respectively. Graduations from high school typically occur between the months of June and August. Oftentimes, completing middle school or kindergarten is also marked by a graduation ceremony.