The Panchen Lama (Tibetan: པཎ་ཆེན་བླ་མ།, Wylie: paN chen bla ma) is a tulku of the Gelug school of Tibetan Buddhism. The Panchen Lama is one of the most important figures in the Gelug tradition, with its spiritual authority second only to the Dalai Lama. Along with the council of high lamas, he is in charge of seeking out the next Dalai Lama. Panchen is a portmanteau of Pandita and Chenpo, meaning "great scholar".

The recognition of Panchen Lamas began with Lobsang Chökyi Gyaltsen, tutor of the 5th Dalai Lama, who received the title "Panchen Bogd" from Altan Khan and the Dalai Lama in 1645. Bogd is Mongolian, meaning "holy". Khedrup Gelek Pelzang, Sönam Choklang and Ensapa Lobsang Döndrup were subsequently recognized as the first to third Panchen Lamas posthumously.

In 1713, the Kangxi Emperor of the Qing dynasty granted the title Panchen Erdeni to the 5th Panchen Lama. In 1792, the Qianlong Emperor issued a decree known as the 29-Article Ordinance for the More Effective Governing of Tibet, and Article One of the decree was designed to be used in the selection of rinpoches, lamas and other high offices within Tibetan Buddhism, including the Dalai Lamas, Panchen Lamas and Mongolian lamas.

Traditionally, the Panchen Lama is the head of Tashilhunpo Monastery, and holds religious and secular power over the Tsang region centered in Shigatse, independent of the Ganden Podrang authority led by the Dalai Lama. The Dalai Lama and Panchen Lama are closely connected, and each participates in the process of recognizing the other's reincarnations.

The successive Panchen Lamas form a tulku reincarnation lineage which are said to be the incarnations of Amitābha. The title, meaning "Great Scholar", is a Tibetan contraction of the Sanskrit paṇḍita (scholar) and the Tibetan chenpo (great). The Panchen Lama traditionally lived in Tashilhunpo Monastery in Shigatse. From the name of this monastery, the Europeans referred to the Panchen Lama as the Tashi-Lama (also spelled Tesho-Lama or Teshu-Lama).

Other titles of Panchen Lama include "Panchen Bogd", the original title given by Altan Khan at the creation of the lineage. "Bogd" (Mongolian: ᠪᠣᠭᠳᠠ, Russian богд) is a Mongolian word meaning "holy, saint". In 1713, the 5th Panchen Lama Lobsang Yeshe received the title "Panchen Erdeni" from the Kangxi Emperor of the Qing Dynasty, which has been inherited by successive Panchen Lamas since then. "Erdeni", or "Erdini", (Manchu: ᡝᡵᡩᡝᠨᡳ erdeni) is Manchu, meaning "treasure".

Lobsang Chökyi Gyaltsen (1570–1662), was the first Panchen Lama to be accorded this title during his lifetime. He was the tutor and a close ally of the 5th Dalai Lama, "The Great Fifth", as he is known, pronounced the Panchen to be an incarnation of the celestial buddha Amitābha.

The 5th Dalai Lama requested the Panchen to accept Tashilhunpo Monastery, built by the 1st Dalai Lama, as his multi-lifetime seat for future incarnations. Since then, every incarnation of the Panchen Lama has been the master of Tashilhunpo Monastery and it is there that they have all received their education and their mummified bodies were enshrined.