Generating functions are utilized in physics to define special functions and describe thermodynamic properties. An example includes the Legendre Polynomials, which can be expressed through a generating function involving a series expansion. The Gibbs Free Energy acts as a generating function for various thermodynamic properties, allowing calculations of specific volume, enthalpy, internal energy, and entropy, although direct measurement of Gibbs Free Energy as a function of temperature and pressure is challenging. Additionally, the thermodynamic canonical and grand canonical partition functions are considered generating functions in a probabilistic context. These applications highlight the versatility and importance of generating functions in theoretical physics.