The twin paradox is a thought experiment in physics that illustrates the effects of time dilation due to relative motion as described by Einstein's theory of relativity. In this scenario, one twin travels at a high speed into space while the other remains on Earth, and upon the traveling twin's return, they find themselves younger than their Earth-bound sibling. This situation highlights the differences in proper time experienced by each twin, emphasizing how time can pass at different rates depending on relative velocity and acceleration.