The range() function in Python generates a sequence of numbers. It is commonly used in loops to iterate a specific number of times. The function can take one, two, or three arguments:<br />range(stop):<br />Generates numbers from 0 up to (but not including) stop, incrementing by 1.<br />range(start, stop):<br />Generates numbers from start up to (but not including) stop, incrementing by 1.