Exception propagation in Python refers to the process by which an exception is passed up the call stack until it is handled by an appropriate exception handler. When an exception occurs in a block of code, Python looks for a corresponding try block that can handle the exception. If it doesn’t find one, the exception propagates to the calling function, and this continues until it either finds a handler or reaches the top level of the program, resulting in a program crash.

In Python, exceptions can be caught using the try and except blocks. If an exception is raised within a try block, the control is transferred to the corresponding except block. If no except block is found, the exception continues to propagate up the call stack. This mechanism allows developers to write robust code that can gracefully handle errors without crashing the entire application.

To manage exceptions effectively, it is essential to understand the types of exceptions that can occur and to implement appropriate handling strategies at various levels of the application.