VLOOKUP has been with Excel from the beginning; it was included in Excel 1 for Macintosh released in 1985. For 34 years, VLOOKUP has been the first lookup function learned by Excel users and our 3rd most used function (after SUM and AVERAGE). In fact, it’s so fundamental to spreadsheeting that most users can recall the sense of achievement they felt when they first mastered VLOOKUP.
XLOOKUP is named for its ability to look both vertically and horizontally (yes it replaces HLOOKUP too!). In its simplest form, XLOOKUP needs just 3 arguments to perform the most common exact lookup (one fewer than VLOOKUP).