We present the discovery of the first high redshift ( z > 5.7 ) quasar from the Panoramic Survey Telescope and Rapid Response System 1 ( Pan-STARRS1 or PS1 ) . This quasar was initially detected as an i _ { P 1 } dropoutout in PS1 , confirmed photometrically with the SAO Widefield InfraRed Camera ( SWIRC ) at Arizona ’ s Multiple Mirror Telescope ( MMT ) and the Gamma-Ray Burst Optical/Near-Infrared Detector ( GROND ) at the MPG 2.2 m telescope in La Silla . The quasar was verified spectroscopically with the the MMT Spectrograph , Red Channel and the Cassegrain Twin Spectrograph ( TWIN ) at the Calar Alto 3.5 m telescope . It has a redshift of 5.73 , an AB z _ { P 1 } magnitude of 19.4 , a luminosity of 3.8 \times 10 ^ { 47 } erg s ^ { -1 } and a black hole mass of 6.9 \times 10 ^ { 9 } M _ { \odot } . It is a Broad Absorption Line quasar with a prominent Ly- \beta peak and a very blue continuum spectrum . This quasar is the first result from the PS1 high redshift quasar search that is projected to discover more than a hundred i _ { P 1 } dropout quasars , and could potentially find more than 10 z _ { P 1 } dropout ( z > 6.8 ) quasars .