Hīnayāna is a Sanskrit term that was at one time applied collectively to the Śrāvakayāna and Pratyekabuddhayāna paths of Buddhism. This term appeared around the first or second century. The Hīnayāna is considered as the preliminary or small (hina) vehicle (yana) of the Buddha's teachings. It is often contrasted with Mahāyāna, the second vehicle of the Buddha's teachings, or the great (maha) vehicle (yana). The third vehicle of the Buddha's teachings is the Vajrayana, the indestructible (vajra) vehicle (yana).

Western scholars used the term Hīnayāna to describe the early teachings of Buddhism, as the Mahāyāna teachings were generally given later. Modern Buddhist scholarship has deprecated the term as pejorative, and instead uses the term Nikaya Buddhism to refer to early Buddhist schools. Hinayana has also been inappropriately used as a synonym for Theravada, which is the main tradition of Buddhism in Sri Lanka and Southeast Asia.

In Sanskrit, "Hīnayāna" (/ˌhiːnəˈjɑːnə/, हीनयान) is a term literally meaning the "small/deficient vehicle" or "small path."

The word hīnayāna is formed from the adjective hīna (Devanagari: हीन) meaning "little", "poor", "inferior", "abandoned", "deficient", "defective"; and the noun yāna (Devanagari: यान): "vehicle", where "vehicle" or "path" refers to "a way of life that leads to enlightenment". The Pali Text Society's Pali-English Dictionary (1921–25) defines hīna in even stronger terms, with a semantic field that includes "poor, miserable; vile, base, abject, contemptible", and "despicable".

The term was translated by Kumārajīva and others into Classical Chinese as "small vehicle" (小 meaning "small", 乘 meaning "vehicle"), although earlier and more accurate translations of the term also exist. In Mongolian (Baga Holgon) the term for hinayana also means "small" or "lesser" vehicle or better called path, while in Tibetan there are at least two words to designate the term, theg chung meaning "small vehicle" and theg dman meaning "inferior vehicle" or "inferior spiritual approach".

Thrangu Rinpoche has emphasized that hinayana is in no way implying "inferior". In his translation and commentary of Asanga's Distinguishing Dharma from Dharmata, he writes, "all three traditions of hinayana, mahayana, and vajrayana were practiced in Tibet and that the hinayana which literally means "lesser vehicle" is in no way inferior to the mahayana."

According to the World Fellowship of Buddhists, the term Hīnayāna should not be used to refer to any extant form of Buddhism.^{[citation needed]}

According to Jan Nattier, it is most likely that the term Hīnayāna postdates the term Mahāyāna and was only added at a later date due to antagonism and conflict between the bodhisattva and śrāvaka ideals. The sequence of terms then began with the term Bodhisattvayāna "bodhisattva-vehicle", which was given the epithet Mahāyāna "Great Vehicle". It was only later, after attitudes toward the bodhisattva teachings had become more critical, that the term Hīnayāna was created as a back-formation, contrasting with the already established term Mahāyāna. The earliest Mahāyāna texts often use the term Mahāyāna as an epithet and synonym for Bodhisattvayāna, but the term Hīnayāna is comparatively rare in early texts, and is usually not found at all in the earliest translations. Therefore, the often-perceived symmetry between Mahāyāna and Hīnayāna can be deceptive, as the terms were not actually coined in relation to one another in the same era.