Myoglobin is a globular protein found in muscle tissue that binds oxygen, facilitating its storage and transport within muscles. It plays a crucial role in providing oxygen during periods of intense physical activity, enhancing muscle endurance. Myoglobin is structurally similar to hemoglobin, the oxygen-carrying protein in blood, but has a higher affinity for oxygen. Elevated levels of myoglobin in the blood can indicate muscle injury or damage.