Of all the characters ive played with in LoL pantheon is by far my favorite. His fast paced assassin play style is an awesome experience and his all around "bad-***ery" is what makes him the best and coolest champ in the league imo. My personal playstyle for panth is a slightly durable but incredibly fast panth with high damage, armor penetration and escapability.

Although the first build is my personal favorite I find that the other builds are good for:
1st build: Early game damage and maneuverability, some durability later on.
2nd build: More durability but not as much maneuverability when youmuus is pushed back, saying your "on fire" when you get sunfire during a killing spree
3rd build: Heavy mana sustainability early on with decent damage and durability, late game tankyness
4th Build: I dont play dominion alot but this is generally the build I use because youmuus and sanguine work well in synergy with each other while the opponent is slowed my entropy. Epic combo of items haha

My rune page for panth is a pretty standard tanky dps page with armor pen marks and quints, flat armor seals and magic res per level glyphs. This rune set up allows panth to be very strong early game while able to take a few hits as well. With the 25 armor pen your attacks in the early game should penetrate most of other champs armor allowing you to bully your lane with your obnoxiously constant spear-shotting xD. since all champs start out with low armor and decent magic res if find that its good to go flat armor and magic res per level which gives you more balanced durability throughout the game.

My personal mastery page for panth is an 11-8-11 page which gives panth even more armor pen for the early game while also improving his health and mana regen to keep him from going back so often for mana as he is very mana hungry in the early game. I feel that the 3 points in meditation is enough to sustain panth enough to go dorans blade over meki pendant as long as you use your skills wisely and focus the right targets. The 8 points in defense provide panth with even more durability for the early game which helps to keep you in the lane to farm or even get some kills. Most people like to take 21 points in one tree or another but i feel like a balance of the 3 trees makes panth a more sustainable and balanced champ in the game.

There are quite a few summoner spells that work well for pantheon and these include:
ghost- good for chasing down enemies, not as good for escaping them if you get cc'd, bt still a good spell
flash- both a great escaping and chasing tool which is great at closing in for the last hit crit or spearshot
exhaust- a good spell for shutting down carrys or for 1v1s or chasing, however this is my least favorite summoner spell and it needs a nerf imo as it is just too powerful
ignite- a good finishing tool, however i dont use it because panths finishing tool is in his spearshot and crit passive
teleport- good for getting back into lane after an ult however it gets less useful after lane phase
cleanse- good for eliminating cc but not for chasing down kills but still a good spell

The following is my build for panth:
I grab a dorans blade first for extra damage early on my spearshot and extra durability along with my runes
Being the fastest champ in lane and on the battlefield is very important to me as panth so i grab my boots second
i grab 2 longswords after boots because they are cheap items and give decent extra damage for the early game
I like boots of swiftness the best for panth because, while it doesnt give stat buffs, it makes panth the fastest champ which i already mentioned is very important to me
brutalizer comes next because it provides good damage along with armor penetration
youmuus is an all around good item for panth, it provides damage, crit chance and armor pen along with an active that provides good escaping and chasing abilities, i like to think of it as a mini ghost and i like to use it less sparingly than my summoner spells because of the shorter cooldown. since my build for panth doesnt include any attack speed, i also like to use youmuus active for taking turrets,killing jungle buffs and soloing drag
BF sword provides great mid game damage for panth as it is the highest damage dealing item for the price, any AD champ will probabaly grab this item at some point in the game
I sometimes like to go straight for infinity edge after BF sword but if i feel like im taking way too much damage to be an effective killer then i grab this item first. Not alot of people like this item but the truth is that it provides pretty decent stats for the price, a combination of health, magic res, armor and even a bit of damage makes this item pretty effective for early to mid game survivability.
I finish off my infinity edge before aegis sometimes if im completely dominating the fight because it boosts my skills even more and its crit passive is great for panths finishing passive on his hss. In addition, if panth runs out of mana the 50% crit and youmuus active makes him an effective auto attacker as well.
My last item is bloodthirster, for obvious reasons, it has the highest damage of any item in the game and its lifesteal keeps panth out on the battlefield for extended amounts of time, rounding out a killer tanky dps panth build.

This is my standard 6 item build, but if you sell your dorans blade then these are some other item options:
Green: Recommended
Yellow: Plausible
Red: Not Recommended
banshees provides a bit more tankability as well as its passive which blocks one cc per 45 seconds. a good item in most peoples eyes but not as good as the next item imo.
FoN is my favorite magic res item because of the large amount of MR, health regen and movement speed it gives. Its 76 MR and 8% movement speed increases makes panth an unstoppable mage killer.
Quite a few people like Froz mallet for its health and attack damage increases and the slow it gives however i feel that its a bit too expensive for the gains it gives and i would avoid this item if i could. Decent for 1v1 chases though.
I dont usually get GA as and item for panth but the funny thing about it is that it makes you a pretty undesirable target in team fights as the team that had trouble killing you once now has to kill you twice.
Gives a good amount of crit chance and movement speed however attack speed is somewhat undesirable for panth because he is more of an attack damage champion. If i would get this item then i would use it to replace my youmuus as a 7th item for a more stable movement and attack speed increase.
A decent option for even more attack damage and lifesteal, makes you a true force to be reckoned with if you are able to avoid taking too much damage.
An item for the AD heavy team, with those damn tryndameres... i prefer my randuins though
The best of the armor items for most champs, as it gives additional health and a helpful aoe slow to further help panth chase down enemies
im not a very big fan of the sword of occult because the tide of battle can change so quickly leaving you with zero stacks and not alot of damage output but if your that confident that my build will own xD then by all means throw it in there

Alot of people who play panth go straight for the hss however i always max my spearshot first because it is a better harassing and chasing skill. Hss has a pretty big cooldown compared to spearshot and it doesnt always hit for its full damage while spearshot cant miss. At the same time, panth has to stand in place while hitting his hss which makes him vulnerable to damage while spearshot keeps panth moving on the battlefield keeping him from having to be right in the fray to do his damage. I grab my first hss at level four however i like to use it more for the passive on getting minion kills than i do for harassing until i get it to higher levels. The rest of the sequence is pretty obvious, get the ult when it comes up and max the shield last.

As with any champion, there is a right way and a wrong way to use their abilities. Alot of the time, using these abilities the wrong way will get you killed, so its important to know when to use what ability at what time. These combos vary from situation to situation, so i have listed a few situations i could think of for your usage.

Farming minions- spearshot last hits, hss'ing full minion waves at low health

Harassment without taking damage- spearshot, sometimes hss from its full range

Heavy harassment avoiding damage- spearshot+ AoZ+ auto attack+ spearshot

Engaging combat- spearshot+ AoZ stun+ hss+ spearshot (tip: in team fights, lining up hss to hit a primary target along with other secondary targets can do massive damage so line up your shot before you jump in for the stun)

Tower Diving with Ult- (get passive up before ulting) Skyfall "Man Drop"+ spearshot (take a tower shot with your passive)+ AoZ+ hss (take another tower shot)+ auto attack + spearshot (if their not dead at this point then you should really consider leaving)

http://screenshots.en.softonic.com/en/scrn/90000/90064/league-of-legends-2.jpg
The X shown in the picture is generally the best place to ult for pantheon, as it is where most champs will teleport out while being far enough behind the tower to avoid the run in tower dive. When you ult in as panth, you can generally expect your opponent to run in one of the 3 ways marked as arrows. If you have ulted at the right time, and have all of your summoner spells and abilities handy then each of the ways should guarantee a kill for you or your teammates.

Tower diving without Ult- same as above for the most part, dont be afraid to tower dive without your ult because you have two great diving summoner spells, youmuus active, and a great passive to help you avoid taking too many tower shots (tip: be careful about diving champs with massive slows or exhaust or champs like renekton and nasus who can bait really well with their ultimates)

Escaping from a single chasing opponent- (if you can afford to wait, let them use up their slows and stuns on you before doing the following) AoZ stun+ youmuus active, dont be afraid to use your summoner spells to escape but use these sparingly because their cooldown is much longer than the youmuus active, use only what you absoutely need to escape because you may need the other for another time.

Escaping from multiple opponents- avoid jumping into them with your aegis this time as it could get you killed, again wait for them to use their cc if you can and use your youmuus passive first, if this wont save you, try to get the the nearest flashable terrain in order to give yourself distance from enemies (the best places to flash are those where the other side is hard to reach, such as the baron and dragon pits). If this still wont save you, use your ghost and without any cc to keep you from running full speed you should be able to escape.

Being a successful panth is all about having good timing and knowing when to jump into a fight and when to hold back. In team fights, the best way to play panth is to follow the waves of the fight harassing with spearshot and following the team but never being the first to jump in. Its usually best if panth is the second one into combat because he can jump in and stun and hss while not taking the brunt of the damage. Since panth is a great finisher, the key of team fights is to stay alive throughout the fight and pick up the kills as everyone gets to low health. Try to stay out of the main fight while looking for potential kill targets. Any squishy targets that aren't directly in the middle of the fight are targets, mainly the ranged dps's and mages. The best way to approach these targets are to pay attention and wait for them to throw out their cc then engage and pick up the kill.

Since this is my first build on mobafire i know it has flaws but i could use some feedback on every part of this build and the way its written. Pantheon is my favorite character in the the league so i hope all who enjoy him as much as I do get to use this build to its full potential.After not playing panth for a while, I came back to him for the day and ended up with an overall KDA of 72-25-34 over 4 games while utilizing each of my builds. :-)

Please know that i have proven this build to be effective if played right, both in ranked and in normal modes. Also note that this page, while showing my personal builds for pantheon, also provides both basic and more advanced tips for mastering pantheon, so consider this when voting. Thanks and good luck in your future battles.