The name given to the Buddhist Canon as compiled by the Elders at the Rājagaha Council (Mhv.iii.40).

It was considered the most orthodox; from it seventeen other schools branched off from time to time in later ages, as a result of schisms in the Order (Mhv.v.1 f).

The followers of the Theravāda are called Theravādins (e.g., Cv.xxxviii.37) and their succession, Theravaṃsa (e.g., Cv.lii.46; liv.46).