Prajñāpāramitā (प्रज्ञापारमिता) means "the Perfection of Wisdom" or "Transcendental Knowledge" in Mahāyāna and Theravāda Buddhism. Prajñāpāramitā refers to a perfected way of seeing the nature of reality, as well as to a particular body of Mahāyāna scriptures (sūtras) which discusses this wisdom. It also refers to the female deity Prajñāpāramitā Devi, a personification of wisdom also known as the "Great Mother" (Tibetan: Yum Chenmo).
The word Prajñāpāramitā combines the Sanskrit words prajñā "wisdom" (or "knowledge") with pāramitā "perfection" or "transcendent". Prajñāpāramitā is a central concept in Mahāyāna Buddhism and is generally associated with ideas such as emptiness (śūnyatā), 'lack of svabhāva' (essence), the illusory (māyā) nature of things, how all phenomena are characterized by "non-arising" (anutpāda, i.e. unborn) and the madhyamaka thought of Nāgārjuna. Its practice and understanding are taken to be indispensable elements of the Bodhisattva path.
According to Edward Conze, the Prajñāpāramitā Sūtras are "a collection of about forty texts ... composed somewhere on the Indian subcontinent between approximately 100 BC and AD 600." Some Prajnāpāramitā sūtras are thought to be among the earliest Mahāyāna sūtras.
Western scholars have traditionally considered the earliest sūtra in the Prajñāpāramitā class to be the Aṣṭasāhasrikā Prajñāpāramitā Sūtra or "Perfection of Wisdom in 8,000 Lines", which was probably put in writing in the 1st century BCE. This chronology is based on the views of Edward Conze, who largely considered dates of translation into other languages. This text also has a corresponding version in verse format, called the , which some believe to be slightly older because it is not written in standard literary Sanskrit. However, these findings rely on late-dating Indian texts, in which verses and mantras are often kept in more archaic forms.
According to Edward Conze, the PP literature developed in nine stages: (1) An urtext similar to the first two chapters of the Sanskrit Ratnagunasaṃcaya Gāthā; (2) Chapters 3 to 28 of the Ratnagunasaṃcaya are composed, along with the prose of the Aṣṭasāhasrikā.