Its primary use is to represent the player's personal hub. The secondary use is to track the player's game statistics, to showcase game achievements and player's champions roster. It also has several customizable esthetics features to better visually distinguish a player amidst other League of Legends players (for example: profile banners, frames, summoner icons and profile background), and bonus pre-game customizable features which use is to enhance player's champion stats and also to add different bonus abilities before each match. These bonuses fall into three categories: summoner spells, runes, and masteries.
If the player wishes to change their profile background to their favorite skin or splash, he/she can do so by clicking on the cog in the top right corner. However the player must own said skin if he/she wants to use it as a profile background.
In order to access certain information, the player must be friends with another, but certain information, such as their rune pages and mastery pages, are open for all to see.
The profile is separated into different tabs.
OverviewThe Overview tab shows the basic information of the player profile. Other players can also view this page, although the honor section is hidden
The background of the profile shows the most played champion by default. Player can set the background to any champion skins they have bought, or the original skins of the champions bought. Next to the background changing button is the field where the user can search other summoners. 
The left side of the screen is the player banner, showing the player name, club name, the summoner icon surrounded by its border and the summoner level. At the end of the banner shows a flair, represent the player last season rank. Below the banner shows current activated experience boosts, ARAM rerolls, and the number of available Hextech Crafting chests obtainable.
The Match History tab shows your last 20 played matches, with, eventually, the option to download a Replay the game, so you can watch it again. This tab also shows some stats, based on the last 20 played matches: your 3 most played champion, and what type of champion you most play.
For Teamfight Tactics matches, the page shows last 20 ranked games.
The Ranked tab, is only available after level 30 and shows your league information.
The Clubs tab shows information about the clubs you're in, like who's the Owner, Officer or Member of the club, and when they joined the club.
The Highlights tab shows all the Highlights you made by pressing the red button while in a Replay. You can watch the Highlight while in the client or directly from your computer, by clicking on the "Show Highlight in file browser" button, and then playing the .webm file.
A summoner icon is a picture that represents a player. Players are initially given a set of 29 icons to choose from, this number can get large depending on the player's actions. Other icons are accessed by purchases in the Riot Store, completing Missions during specific events or achieving the corresponding rank in different ranked queues.
The profile background is the background picture of the Overview tab. It can be changed using a button on the tab. Changeable backgrounds are unlocked by buying a champion (their original skin splash art) or a skin (the skin splash art).
Most of the profile backgrounds are static. However, ultimate champion skin backgrounds are dynamic.
In the old profile, there is a banner. Every player used the default profile banner. Buying an ultimate skin will unlock new banners.