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An animal sacrifice offered on Eid al-Adha, shared with the poor.
Udhiyah is the sacrifice of a qualifying animal (sheep, goat, cow, or camel, meeting age and health conditions) on Eid al-Adha and the following days of Tashreeq, in remembrance of Ibrahim's sacrifice. Anas reported that the Prophet ﷺ himself slaughtered two black-and-white rams with his own hands, saying Allah's name and the takbir over them (Bukhari 5558) — establishing that performing the slaughter oneself, where able, is the more excellent practice, though having it done on one's behalf is also valid.
The Qur'an directly ties the sacrifice to sharing its meat: '...eat from them and feed the needy and the beggar' (Qur'an 22:36). The meat is generally shared between one's own household, family and friends, and the poor, so that the occasion combines worship, generosity, and gratitude.
The sacrifice should take place after the Eid prayer, not before — one companion who had slaughtered early was told by the Prophet ﷺ to repeat it, since a sacrifice offered before the prayer is not counted as udhiyah. Rulings on who exactly is obligated to offer it, and precise timing windows, vary by school; consult a qualified local scholar for your situation.

Qur'an

Reference: Qur'an 22:36
...for you therein is good. So mention the name of Allah upon them when lined up [for sacrifice]; and when they are [lifeless] on their sides, then eat from them and feed the needy and the beggar.

Hadith

Sahih al-Bukhari · 5558
Sahih
The Prophet ﷺ slaughtered two rams, black and white in colour, and I saw him putting his foot on their sides and mentioning Allah's Name and saying the takbir. Then he slaughtered them with his own hands.

Practical steps

1
Arrange your udhiyah before Eid al-Adha if you are able and it is due upon you.
2
Ensure the sacrifice happens after the Eid prayer, not before.
3
Share the meat between your household, family/friends, and the poor.
Who exactly udhiyah is obligatory upon, and the precise valid window for slaughter, are detailed fiqh questions that differ by school. This is general educational content, not a fatwa — consult a qualified local scholar for your situation.
Educational overview — not a fatwa. Where schools differ (such as the extra-takbir count), both positions are presented; follow your imam or a qualified local scholar.