Threat hunting involves proactively searching networks to detect advanced threats that evade existing security solutions. It is not a reactive process like alerting, but instead involves repeated searches through networks using various approaches like data-centric hunting, endpoint hunting, and deception techniques. The document provides examples of hunting techniques for lateral movement, command and control, data exfiltration, and malware on networks. It emphasizes that threat hunting is an ongoing process of iterative searches to continuously identify security threats.