Python is a byte-code compiled programming language that supports multiple programming paradigms. Python is sometimes called an interpreted and/or scripting language because no separate compilation step is required to run a Python program; in more precise terms, Python uses a virtual machine (much like Java or Smalltalk) to run machine-abstracted instructions. In most situations a byte-code compiled version of an application is cached to speed future runs, but wherever necessary compilation is performed "behind the scenes."
In the broadest terms, Python is an imperative programming language, rather than a declarative (functional or logical) one. Python is dynamically and strongly typed, with very late binding compared to most languages. In addition, Python is an object-oriented language with strong introspective facilities, and one that generally relies on conventions rather than enforcement mechanisms to control access and visibility of names. Despite its object-oriented core, much of the syntax of Python is designed to allow a convenient procedural style that masks the underlying OOP mechanisms. Although Python allows basic functional programming (FP) techniques, side effects are the norm, evaluation is always strict, and no compiler optimization is performed for tail recursion (nor on almost any other construct).
Python has a small set of reserved words, delimits blocks and structure based on indentation only, has a fairly rich collection of built-in data structures, and is generally both terse and readable compared to other programming languages. Much of the strength of Python lies in its standard library and in a flexible system of importable modules and packages.