Madhyamaka: (Sanskrit) The middle way, a system of analysis founded by Nagarjuna, based on the prajnaparamita sutras of Shakyamuni Buddha, and considered to be the supreme presentation of the wisdom of emptiness
Following the Middle Way, one avoids the two extreme views: eternalism and nihilism.
Eternalism, roughly, is belief in an unconditional, solid reality or permanence - belief in a solid, permanent self.
Nihilism is the view that things happen for no rhyme or reason, or through fate.
As Saraha said (something like), the one who believes he exists has got it very wrong; but the one who believes he doesn't is dumber than a cow.
See also FindingTheMiddleWayCategoryEasternThought