The enlightenment of the Buddha is among the most significant events in Buddhist history, and it's an event commemorated annually by many Buddhists. English speakers often call the observance Bodhi Day. The word bodhi in Sanskrit and Pali means "awakening" but is often translated into English as "enlightenment."
According to early Buddhist scripture, the historical Buddha was a prince named Siddhartha Gautama who was disturbed by thoughts of sickness, old age, and death. He gave up his privileged life to become a homeless mendicant, seeking peace of mind. After six years of frustration, he sat under a fig tree (a variety known ever after as a "bodhi tree") and vowed to remain in meditation until he had fulfilled his quest. During this meditation, he realized enlightenment and became the Buddha, or "the one who is awake."
This content is adapted from Barbara O'Brien's "An Overview of Bodhi Day."