Potassium nitrate is a chemical compound with a sharp, salty, bitter taste and the chemical formula KNO3. It is an ionic salt of potassium ions K+ and nitrate ions NO3−, and is therefore an alkali metal nitrate. It occurs in nature as a mineral, niter (or nitre in the UK). It is a source of nitrogen, and nitrogen was named after niter. Potassium nitrate is one of several nitrogen-containing compounds collectively referred to as saltpeter (or saltpetre in the UK).

Potassium is a chemical element; it has symbol K and atomic number 19. It is a silvery white metal that is soft enough to easily cut with a knife. Potassium metal reacts rapidly with atmospheric oxygen to form flaky white potassium peroxide in only seconds of exposure. It was first isolated from potash, the ashes of plants, from which its name derives. In the periodic table, potassium is one of the alkali metals, all of which have a single valence electron in the outer electron shell, which is easily removed to create an ion with a positive charge. In nature, potassium occurs only in ionic salts. Elemental potassium reacts vigorously with water, generating sufficient heat to ignite hydrogen emitted in the reaction, and burning with a lilac-colored flame. It is found dissolved in seawater, and occurs in many minerals such as orthoclase, a common constituent of granites and other igneous rocks.