The statements in the else block are executed if execution falls off the bottom of the try - if there was no exception. Honestly, I've never found a need.

However, Handling Exceptions notes:

The use of the else clause is better than adding additional code to the try clause because it avoids accidentally catching an exception that wasn’t raised by the code being protected by the try ... except statement.

So, if you have a method that could, for example, throw an IOError, and you want to catch exceptions it raises, but there's something else you want to do if the first operation succeeds, and you don't want to catch an IOError from that operation, you might write something like this:

try:
    operation_that_can_throw_ioerror()
except IOError:
    handle_the_exception_somehow()
else:
    # we don't want to catch the IOError if it's raised
    another_operation_that_can_throw_ioerror()
finally:
    something_we_always_need_to_do()

If you just put another_operation_that_can_throw_ioerror() after operation_that_can_throw_ioerror, the except would catch the second call's errors. And if you put it after the whole try block, it'll always be run, and not until after the finally. The else lets you make sure

1. the second operation's only run if there's no exception,
2. it's run before the finally block, and
3. any IOErrors it raises aren't caught here

There is one big reason to use else - style and readability. It's generally a good idea to keep code that can cause exceptions near the code that deals with them. For example, compare these:

try:
    from EasyDialogs import AskPassword
    # 20 other lines
    getpass = AskPassword
except ImportError:
    getpass = default_getpass

and

try:
    from EasyDialogs import AskPassword
except ImportError:
    getpass = default_getpass
else:
    # 20 other lines
    getpass = AskPassword

The second one is good when the except can't return early, or re-throw the exception. If possible, I would have written:

try:
    from EasyDialogs import AskPassword
except ImportError:
    getpass = default_getpass
    return False  # or throw Exception('something more descriptive')

# 20 other lines
getpass = AskPassword

Note: Answer copied from recently-posted duplicate here, hence all this "AskPassword" stuff.

Python try-else

What is the intended use of the optional else clause of the try statement?

The intended use is to have a context for more code to run if there were no exceptions where it was expected to be handled.

This context avoids accidentally handling errors you did not expect.

But it's important to understand the precise conditions that cause the else clause to run, because return, continue, and break can interrupt the control flow to else.

In Summary

The else statement runs if there are no exceptions and if not interrupted by a return, continue, or break statement.

The other answers miss that last part.

From the docs:

The optional else clause is executed if and when control flows off the end of the try clause.*

(Bolding added.) And the footnote reads:

*Currently, control “flows off the end” except in the case of an exception or the execution of a return, continue, or break statement.

It does require at least one preceding except clause (see the grammar). So it really isn't "try-else," it's "try-except-else(-finally)," with the else (and finally) being optional.

The Python Tutorial elaborates on the intended usage:

The try ... except statement has an optional else clause, which, when present, must follow all except clauses. It is useful for code that must be executed if the try clause does not raise an exception. For example:

for arg in sys.argv[1:]:
    try:
        f = open(arg, 'r')
    except OSError:
        print('cannot open', arg)
    else:
        print(arg, 'has', len(f.readlines()), 'lines')
        f.close()

The use of the else clause is better than adding additional code to the try clause because it avoids accidentally catching an exception that wasn’t raised by the code being protected by the try ... except statement.

Example differentiating else versus code following the try block

If you handle an error, the else block will not run. For example:

def handle_error():
    try:
        raise RuntimeError('oops!')
    except RuntimeError as error:
        print('handled a RuntimeError, no big deal.')
    else:
        print('if this prints, we had no error!') # won't print!
    print('And now we have left the try block!')  # will print!

And now,

>>> handle_error()
handled a RuntimeError, no big deal.
And now we have left the try block!

One use: test some code that should raise an exception.

try:
    this_should_raise_TypeError()
except TypeError:
    pass
except:
    assert False, "Raised the wrong exception type"
else:
    assert False, "Didn't raise any exception"

(This code should be abstracted into a more generic test in practice.)