Short Definition
L2 regularization adds a penalty based on squared model weights and discourages overly large parameter values.
Intuition
L2 makes the model spread influence more smoothly instead of relying on extreme weights.
Technical Definition
L2 regularization adds a term proportional to the squared Euclidean norm of parameters to the objective.
Example
Weight decay in neural network training is a common L2-style constraint.
Common Misunderstandings
Weight decay and L2 regularization are closely related but can differ depending on the optimizer.
L2 usually shrinks weights rather than making many of them exactly zero.