Psychophysics is the field of psychology which quantitatively investigates the relationship between physical stimuli and the sensations and perceptions they produce. Psychophysics has been described as "the scientific study of the relation between stimulus and sensation" or, more completely, as "the analysis of perceptual processes by studying the effect on a subject's experience or behaviour of systematically varying the properties of a stimulus along one or more physical dimensions".

Psychophysics also refers to a general class of methods that can be applied to study a perceptual system. Modern applications rely heavily on threshold measurement, ideal observer analysis, and signal detection theory.

Psychophysics has widespread and important practical applications. For instance, in the realm of digital signal processing, insights from psychophysics have guided the development of models and methods for lossy compression. These models help explain why humans typically perceive minimal loss of signal quality when audio and video signals are compressed using lossy techniques.

Many of the classical techniques and theories of psychophysics were formulated in 1860 when Gustav Theodor Fechner in Leipzig published Elemente der Psychophysik (Elements of Psychophysics). He coined the term "psychophysics", describing research intended to relate physical stimuli to the contents of consciousness such as sensations (Empfindungen). As a physicist and philosopher, Fechner aimed at developing a method that relates matter to the mind, connecting the publicly observable world and a person's privately experienced impression of it. His ideas were inspired by experimental results on the sense of touch and light obtained in the early 1830s by the German physiologist Ernst Heinrich Weber in Leipzig, most notably those on the minimum discernible difference in intensity of stimuli of moderate strength (just noticeable difference; jnd) which Weber had shown to be a constant fraction of the reference intensity, and which Fechner referred to as Weber's law. From this, Fechner derived his well-known logarithmic scale, now known as Fechner scale. Weber's and Fechner's work formed one of the bases of psychology as a science, with Wilhelm Wundt founding the first laboratory for psychological research in Leipzig (Institut für experimentelle Psychologie). Fechner's work systematised the introspectionist approach (psychology as the science of consciousness), that had to contend with the Behaviorist approach in which even verbal responses are as physical as the stimuli.

Fechner's work was studied and extended by Charles S. Peirce, who was aided by his student Joseph Jastrow, who soon became a distinguished experimental psychologist in his own right. Peirce and Jastrow largely confirmed Fechner's empirical findings, but not all. In particular, a classic experiment of Peirce and Jastrow rejected Fechner's estimation of a threshold of perception of weights. In their experiment, Peirce and Jastrow in fact invented randomized experiments: They randomly assigned volunteers to a blinded, repeated-measures design to evaluate their ability to discriminate weights. On the basis of their results they argued that the underlying functions were continuous, and that there is no threshold below which a difference in physical magnitude would be undetected. Peirce's experiment inspired other researchers in psychology and education, which developed a research tradition of randomized experiments in laboratories and specialized textbooks in the 1900s.

The Peirce–Jastrow experiments were conducted as part of Peirce's application of his pragmaticism program to human perception; other studies considered the perception of light, etc. Jastrow wrote the following summary: "Mr. Peirce's courses in logic gave me my first real experience of intellectual muscle. Though I promptly took to the laboratory of psychology when that was established by Stanley Hall, it was Peirce who gave me my first training in the handling of a psychological problem, and at the same time stimulated my self-esteem by entrusting me, then fairly innocent of any laboratory habits, with a real bit of research. He borrowed the apparatus for me, which I took to my room, installed at my window, and with which, when conditions of illumination were right, I took the observations. The results were published over our joint names in the Proceedings of the National Academy of Sciences. The demonstration that traces of sensory effect too slight to make any registry in consciousness could none the less influence judgment, may itself have been a persistent motive that induced me years later to undertake a book on The Subconscious." This work clearly distinguishes observable cognitive performance from the expression of consciousness.

Modern approaches to sensory perception, such as research on vision, hearing, or touch, measure what the perceiver's judgment extracts from the stimulus, often putting aside the question what sensations are being experienced. One leading method is based on signal detection theory, developed for cases of very weak stimuli. However, the subjectivist approach persists among those in the tradition of Stanley Smith Stevens (1906–1973). Stevens revived the idea of a power law suggested by 19th century researchers, in contrast with Fechner's log-linear function (cf. Stevens' power law). He also advocated the assignment of numbers in ratio to the strengths of stimuli, called magnitude estimation. Stevens added techniques such as magnitude production and cross-modality matching. He opposed the assignment of stimulus strengths to points on a line that are labeled in order of strength. Nevertheless, that sort of response has remained popular in applied psychophysics. Such multiple-category layouts are often misnamed Likert scaling after the question items used by Likert to create multi-item psychometric scales, e.g., seven phrases from "strongly agree" through "strongly disagree".

Omar Khaleefa has argued that the medieval scientist Alhazen should be considered the founder of psychophysics. Although al-Haytham made many subjective reports regarding vision, there is no evidence that he used quantitative psychophysical techniques and such claims have been rebuffed.^{[dubious – discuss]}