Opcode

Opcodes (short for “operation codes”) refer to low-level instructions that the PHP interpreter uses to execute PHP scripts. When PHP processes a code, it goes through several stages of compilation and interpretation. One of these stages involves translating the human-readable PHP source into a series of opcodes, which are then executed by the PHP engine.

Generally speaking, coders never come close to opcodes. The only occasion is when configuring the opcode cache: this cache keeps the generated opcodes in memory, and skips the stages of compilation as long as the source is not changed.

Documentation

See also What is OPcache and How Do You Use It?