Peptidyl transferase activity refers to the enzymatic function of forming peptide bonds between amino acids during protein synthesis, specifically during translation. This activity is primarily associated with the large subunit of the ribosome, where it catalyzes the reaction that links the carboxyl group of one amino acid to the amino group of another, thereby elongating the polypeptide chain. The precision and efficiency of this process are crucial for the accurate assembly of proteins based on mRNA templates.