React introduced Hooks in February 2019 as an alternative to classes for managing state, lifecycles, and context in components. The main Hooks are useState for managing local state, useEffect for lifecycle methods like componentDidMount, and useContext for context. Classes are still supported but Hooks are expected to become the primary way components are defined. There are currently 10 Hooks including additional ones for reducer logic, memoization, callbacks, and more. Hooks allow lifting stateful logic out of classes while preserving their benefits like reuse and composition.