What fraction of 360 degrees is 120 degrees?

To find the fraction of 360 degrees that 120 degrees represents, we can set up a fraction:

$\frac{120 \text{ degrees}}{360 \text{ degrees}}$

Now we simplify the fraction by dividing both the numerator and the denominator by their greatest common divisor, which is 120:

$\frac{120}{360} = \frac{120 \div 120}{360 \div 120} = \frac{1}{3}$

So, 120 degrees is $\frac{1}{3}$ of 360 degrees.

Final Answer: The final answer is $\boxed{\frac{1}{3}}$