Compiled languages have a compiler that processes statements written in this particular language and transforms them into machine language (a code that can be executed directly by computer’s processor).
Python does not have such compiler. Python code is translated into machine code during the execution of the program (as opposed to being compiled into it beforehand). Therefore the standard Python is interpreted language.
There exist many different implementations of Python though (CPython, PyPy, IronPython, etc). Some of them come with built-in compilers, some don’t.
But official CPython is byte code interpreted.