Point of view is the narrative position a story is told from: first person (I), second person (you), or third person (he/she/they). It governs whose thoughts the reader can access and how much they know at any moment. POV is one of the earliest and most consequential decisions in a draft, because it shapes intimacy, suspense, and voice.
Beyond grammatical person, POV includes distance — how close the narration sits to a character's inner life. A distant third person reports events from outside; a close one lives inside a character's head. (For the close variety, see deep POV and third person limited.)
First person: 'I didn't trust the lawyer, and I told her so.' Third person limited: 'She didn't trust the lawyer, and she said as much.'
See also: Third person limited POV (blog)