This the main bus station in Prague, a decent size for a stand-alone bus depot, unlike some major…read morecities, isn't located in the exact place as the main train station, however it is kitty-corner from the secondary train station.
Located in the part of the city east of the Vltava River, not too far from the Historická budova Národního muzea (National Museum), I t's about a 5 minute drive or 20 minute walk from the main train station Praha Hlavní nádraží. It's also a short 4-5 minute walk to the secondary train station Praha Masarykovo.
There are both local buses and long haul buses that stop here, some which drive to/from as far as Amsterdam or Strasbourg. The building layout is pretty simple, an entrance on the west side of a rectangular building, and directly in front of the building a paved loop for pickup/drop off, then further in front of that multiple bus lanes laid out in the parking lot with numbered stops. Inside the building as you walk in, on the left there's a row of ticket counters followed by an information counter above which is a screen with bus departures and arrivals. On the right side are some shops and fast food restaurants, in the center area some seats for waiting.
I was able to locate to locate my bus fairly quickly and board about 10 minutes prior to departure. I would recommend getting there at least 20 minutes in advance if you're not too familiar with the area. It's walkable or you can take the local buses or metro within a couple blocks away.
Found the facilities modern though utilitarian, generally speaking clean and in good working order. There are also some covered bus stops along the sides of the parking lot in case you're waiting outside for your bus.