A Playmate is a female model featured in the centerfold/gatefold of Playboy magazine as Playmate of the Month (PMOM). The PMOM's pictorial includes nude photographs and a centerfold poster, as well as a short biography and the "Playmate Data Sheet", which lists her birthdate, measurements, turn-ons, and turn-offs. At the end of the year, one of the twelve Playmates of the Month is named Playmate of the Year (PMOY). Currently, Playmates of the Month are paid US$25,000 and Playmates of the Year receive an additional US$100,000 plus a car and a motorcycle. In addition, Anniversary Playmates are usually chosen to celebrate a milestone year of the magazine.

Playboy encourages potential Playmates to send photos with "girl next door" appeal for consideration; others may submit photos of Playmate candidates, and are eligible for a US$2,500 finder's fee if their model is selected. In addition, "casting calls" are held regularly in major U.S. cities to offer opportunities for women to test for Playboy. The Playboy photographers and Hugh Hefner then select which models become Playmates. The Playmate of the Year is chosen personally by Hugh Hefner, taking into account an annual readers' poll.

According to Playboy, there is no such thing as a former Playmate, “Once a Playmate, always a Playmate”.