The Centroid Theorem states that the centroid of a triangle is the point where the three medians intersect, and it divides each median into two segments with a ratio of 2:1, with the longer segment being closer to the vertex. This point is also the center of mass or balance point of the triangle. Understanding this theorem helps in determining key properties of triangles and their symmetry, as well as applying it to real-world problems involving balance and center of gravity.