Webpack is a build tool for modern web applications, which bundles your application by recursively building a dependency graph and packaging all modules into one or more bundles. It has become the most popular build tool for bundling Single Page Apps into static assets due to its early adoption by the React community. Webpack has found its way into many boilerplates and CLI-generated templates, providing little to no configuration and learning needed. The tutorial will guide you through setting up Webpack from scratch using npm, adding a loader for Babel to transpile JavaScript, and utilizing plugins like UglifyJS for minification.