A constructor is a special type of method that initializes an object. It has the same name as the class and does not have a return type. There are two types of constructors: a default constructor with no arguments, and a parameterized constructor with one or more arguments. A constructor initializes the state of an object when it is created, while a method exposes the behavior of an object and can have a return type. Constructors are invoked implicitly when an object is created using the new keyword.