React.lazy with Suspense is the recommended way to implement component lazy loading in React applications because: 1) It integrates seamlessly with React's component model, 2) Provides a declarative way to specify loading states with fallback content, 3) Handles loading states and errors automatically, 4) Works well with code splitting tools like webpack. The Suspense component wraps lazy-loaded components and shows fallback content (like a loading spinner) while the component is being loaded. This pattern provides a clean, maintainable way to implement lazy loading while ensuring good user experience during loading states.