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Trotskyism is the theory of Marxism as advocated by the Russian revolutionary Leon Trotsky. Trotsky identified as an orthodox Marxist and BolshevikLeninist. He supported founding a vanguard party of the proletariat, proletarian internationalism and a dictatorship of the proletariat based on working class self-emancipation and mass democracy. Trotskyists are critical of Stalinism as they oppose Joseph Stalin's theory of socialism in one country in favor of Trotsky's theory of permanent revolution. Trotskyists also criticize the bureaucracy that developed in the Soviet Union under Stalin.

Vladimir Lenin and Trotsky were close both ideologically and personally during the Russian Revolution and its aftermath, and some call Trotsky its "co-leader". Trotsky was the paramount leader of the Red Army in the direct aftermath of the Revolutionary period. Trotsky initially opposed some aspects of Leninism, but he concluded that unity between the Mensheviks and Bolsheviks was impossible and joined the Bolsheviks. Trotsky played a leading role with Lenin in the revolution. Assessing Trotsky, Lenin wrote: "Trotsky long ago said that unification is impossible. Trotsky understood this and from that time on there has been no better Bolshevik."

Under Stalin's orders, Trotsky was removed from power (October 1927), expelled from the All-Union Communist Party (Bolsheviks) (November 1927), exiled first to Alma-Ata (January 1928), and then from the Soviet Union (February 1929). As the head of the Fourth International, Trotsky continued from exile to oppose the Stalinist bureaucracy in the Soviet Union. On 20 August 1940, Trotsky was attacked by Ramón Mercader, a Spanish-born NKVD agent, and died the next day in a hospital. His murder is considered a political assassination. Almost all of the Trotskyists within the All-Union Communist Party (Bolsheviks) were executed in the Great Purges of 1937–1938, effectively removing all of Trotsky's internal influence in the Soviet Union.

Trotsky's Fourth International was established in France in 1938, when Trotskyists argued that the Comintern or Third International had become irretrievably "lost to Stalinism" and thus incapable of leading the international working class to political power. In contemporary English language usage, an advocate of Trotsky's ideas is often called a "Trotskyist". A Trotskyist can be called a "Trotskyite" or "Trot", especially by a critic of Trotskyism.

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