The location on the ice where the official has determined the puck will be dropped for the next faceoff. The exact location is dependant on the way in which the play ended as well as where the play ended.
The rules surrounding its selection is determined by Rule 76.2 in the Official NHL Rulebook.
There are a total of nine different faceoff spots on the ice with two in each teams zone, two just outside the blueline of each teams zone and one at center ice.
There is an extensive list of rules that determine the location of of the faceoff spot including which team was at fault for ending the play, if a penalty caused the end of the play, if icing caused the end of the play, etc.
For example, if a team is called for icing the puck the faceoff spot will be in the icing teams zone on the side in which the ice occurred.