Percocet is a prescription medication that combines oxycodone, an opioid pain reliever, and acetaminophen, a non-opioid analgesic and antipyretic. Oxycodone works by altering how the brain perceives pain, while acetaminophen can reduce fever and enhance the pain-relieving effects of oxycodone. Percocet is commonly prescribed for moderate to severe pain that requires continuous, around-the-clock relief for an extended period.