Renal autoregulation is the intrinsic ability of the kidneys to maintain a relatively constant glomerular filtration rate (GFR) despite fluctuations in systemic blood pressure. This process ensures that the kidneys can effectively filter blood and regulate fluid and electrolyte balance, which is crucial for maintaining homeostasis in the body. It involves mechanisms such as myogenic response and tubuloglomerular feedback, which help adjust the diameter of afferent and efferent arterioles to control blood flow into the glomeruli.