The logarithm of the n-octanol/water partition coefficient (logP) serves as a foundational physicochemical descriptor in medicinal chemistry and drug discovery. It quantifies molecular lipophilicity, a property that governs a drug candidate's journey through biological membranes, its target affinity, and its ultimate metabolic fate. This review provides an in-depth examination of logP, detailing its mathematical formulation, experimental determination methodologies, and algorithmic in silico prediction frameworks. Furthermore, we evaluate its critical role in predicting Absorption, Distribution, Metabolism, Excretion, and Toxicity (ADMET) profiles, its integration into structural filters like Lipinski's Rule of 5, and the emerging paradigms of Beyond Rule of 5 (bRo5) chemical spaces where dynamic lipophilicity landscapes dictate compound behavior