Arrays in Python can be used to store collections of homogeneous data elements. There are two main ways to work with arrays in Python: using the array module or using NumPy. The array module allows users to create arrays of basic data types like integers while NumPy provides a more powerful N-dimensional array object and tools for scientific computing. Both support common array operations like accessing elements, slicing, concatenation, and more. NumPy arrays can also represent matrices and support linear algebra operations.