In the old days, it was a simple religious festival held in late autumn to count your blessings after a bountiful harvest.
While it is no longer such a religious affair, Americans the world over celebrate and give thanks for all the good things in their lives.
Young Post asked its readers to tell us what they are grateful for.
Germaine Woon, 17, HKU Space
Happy Thanksgiving, everyone! I am thankful for my amazing father. Despite being a single parent, he has been the rock behind everything I have done. He has given me so much more than I could ever ask for.
Aanchal Wadhwani, 18, Hong Kong Communication Art Centre
I am thankful for the opportunities life has given me. Exploring these opportunities has yielded both positive and negative results, but I am grateful for them just the same.
Hanish Daryanani, 12, HKMA David Li Kwok Po College
I am thankful for many simple things. I am grateful for studying at a good school, which is giving me a good education. I am also grateful for the television programmes and books that help me pass my time enjoyably. I am thankful for having been born an Indian because of the country's rich history and culture. But most of all, I am thankful for having amazing parents who have taught me important values and have brought me up with love and care.
Elicia Mirandilla, 18, YMCA of Hong Kong Christian College
I am grateful to the people in my school. I am new here, but I already have many amazing new friends. The students come from diverse backgrounds and I have learned a lot from all of them. They have helped me grow as a person. I used to be very shy and reserved, but thanks to them I've managed to open up.
Prabhat Motwani, 18, Island School
I am grateful for my parents because they have always stood by me. They have encouraged me to step up to challenges and helped me find the power to overcome them. I am also grateful to have such good friends. They make me feel like a winner even on days when I'm feeling lost.
Hugh Kapernaros, 13, Island School
I am thankful for the one and only Hong Kong! It's such a crazy, confusing yet awesome place to live. I'm thankful for all the opportunities that I have been given here.
I am also thankful for my iPod. I have no idea how I'd be able to survive my 7am bus rides to school without it. There is nothing worse than the daunting prospect of a day of maths and science, so I'm so grateful I have a way to block it all out.
Dimple Motwani, 19, HKU Space
I don't believe that a single day in the entire year is enough to give thanks for all the things we should be grateful for. Every day I want to thank my family. My parents and my siblings have not only been a guiding light in my life but have also been a bigger pillar of support than I could have ever asked for. They've been there for me through thick and thin. I am very fortunate because of them. My family is a wonderful blessing in my life.
Chandni Chotrani, 18, American International School
I am who I am today because of my family, their support and their guidance. They have never let me down and always done their best to help me. I am thankful for having such wonderful people in my life.
Whenever I need them, they're always there for me. My mum and dad have given their all for me. They have sacrificed a lot just to make me happy. Words can't express how thankful I am to them. Thank you so much, Mum and Dad!