The zero set of a collection of polynomials. An algebraic variety is one of the the fundamental objects in algebraic geometry.
An algebraic variety is a generalization to n dimensions of algebraic curves. More technically, an algebraic variety is a reduced scheme of finite type over a field K. An algebraic variety V in R^n (or C^n) is defined as the set of points satisfying a system of polynomial equations f_i(x_1, ..., x_n) = 0 for i = 1, 2, .... According to the Hilbert basis theorem, a finite number of equations suffices. A variety is the set of common zeros to a collection of polynomials. In classical algebraic geometry, the polynomials have complex numbers for coefficients. Because of the fundamental theorem of algebra, such polynomials always have zeros.
graduate school level