A potion (from Latin potio, meaning beverage, potion, poison) is a drinkable medicine or poison.

In legend a potion is a concoction used to heal, bewitch or poison people, made by a magician, sorcerer or witch. i.e., there can be cited love potions, intended to make a person fall in love with other, or potions for the opposite effect, intending that a person hate another. The love potion (Liebestrank) figures tragically in Richard Wagner's Tristan und Isolde.

Creation of potions of different kinds was a common practice of alchemy.

During the 19th Century it was common in certain countries to see wandering charlatans offering potions to heal every disease, ache, etc. In later years, these became replaced by/known as patent medicines.

A philter or philtre is a magical charm, usually a potion, that is said to have the power to cause its imbiber to fall in love with the person who gave it to them.

Compare: elixir.