The Node.js event loop is a mechanism that allows Node.js to perform non-blocking I/O operations despite being single-threaded.Understanding the event loop is key to mastering Node.js development, as it dictates how asynchronous tasks are managed.The event loop relies on the libuv library, which handles asynchronous operations like file I/O, network requests, and timers.The event loop processes tasks in distinct phases, each handling specific types of operations.