Targeted protein degradation (TPD) is a drug design strategy that uses small molecules such as PROteolysis TArgeting Chimeras (PROTACs), molecular glues, or related approaches to induce the selective ubiquitination and subsequent proteasomal degradation of target proteins via the ubiquitin–proteasome system or other cellular clearance pathways. Unlike traditional occupancy-driven inhibition, TPD agents catalytically trigger irreversible loss of disease-modifying proteins, enabling the removal of providing sustained duration of action after transient engagement of the target protein. This event-driven approach is being investigated for potential therapeutic applications in oncology, neurodegeneration, and other areas.