The Pheu Thai Party (PTP or PT) is a major populist political party in Thailand. It is the third incarnation of the Thai Rak Thai Party, a political party founded by former prime minister Thaksin Shinawatra in 1998. Like the previous incarnations, Pheu Thai is the main political vehicle for the Shinawatra family. It is currently the second largest party in the House of Representatives and has been in government as the majority leader in the ruling coalition since 2023.
The Pheu Thai Party was founded on 20 September 2007, as an anticipated replacement for the People's Power Party (PPP), which the Constitutional Court of Thailand dissolved less than three months later after finding party members guilty of electoral fraud. The People's Power Party was itself a replacement for Thaksin's original Thai Rak Thai Party (TRT), dissolved by the Court in May 2007 for violation of electoral laws.