Webpack is commonly used with React to enable code splitting. Webpack has built-in support for code splitting through its dynamic import() syntax, which React.lazy() utilizes behind the scenes. Webpack analyzes your import() calls and splits your code into separate chunks that can be loaded on demand. Other bundlers like Rollup and Parcel also support code splitting, but Webpack is the most commonly used tool for this purpose in React applications due to its robust features and integration with Create React App.