Simulink is a MATLAB toolbox that is used for modeling, simulating, and analyzing multi-domain dynamic systems. It provides a graphical interface for building models as block diagrams using customizable block libraries. Models can be simulated, and simulation results can be analyzed in MATLAB. Simulink supports system-level design, simulation, automatic code generation, and testing and verification of embedded systems. It integrates with other MATLAB tools and third-party products for various applications like state machine design, embedded code generation, and hardware-in-the-loop testing.