Quicksort is a highly efficient sorting algorithm that utilizes a divide-and-conquer strategy to sort elements in an array or list. By selecting a 'pivot' element and partitioning the other elements into two sub-arrays, one with elements less than the pivot and another with elements greater, quicksort recursively sorts these sub-arrays. Its efficiency makes it a popular choice for large datasets, emphasizing the importance of understanding sorting algorithms in data structures and abstract data types.