Why does my dog... pant?
Dogs have no sweat glands that are actively involved in thermoregulation this means that if they become overheated they must dissipate that heat by panting. This is probably the most common reason for panting (especially if the weather is warm, the dog has been exercised and/ or the dog has a particularly thick coat).
Panting represents a fairly inefficient method of cooling and is one of the reasons that certain dogs (with thick coats) are so prone to heat stroke. Dogs will also pant if they have a temperature for other reasons i.e as a result of illness.

Finally if there is a reduction in the amount of oxygen reaching body tissues (as a result of circulatory disease, anaemia, shock or resiratory disease) one of the protective mechanisms is for the body to increase the amount of oxygen reaching the lungs - by panting! Often in these circumstances the membranes in the mouth may be pale or blue tinged. In any case where the dog appears unwell it is wise to consult your vet as soon as possible.