MSHTML was introduced in Microsoft Internet Explorer 4.0. It is the main HTML component of the Internet Explorer browser and can be used in other applications. It hosts Microsoft ActiveX Controls and supports the OLE Control '96 (OC96) specification for windowless controls.
MSHTML frequently comes into play when a WPF or WinForms application hosts a web browser control. To access MSHTML, the 'Add Reference' dialog is used as shown in the figure below...
Reference articles for MSHTML can be found here