The Pan-STARRS1 (PS1) 3π survey is a comprehensive optical imaging survey of three quarters of the sky in the grizy broad-band photometric filters. We present the methodology used in assembling the source classification and photometric redshift (photo-z ) catalogue for PS1 3π Data Release 1, titled Pan-STARRS1 Source Types and Redshifts with Machine learning (PS1-STRM).For both main data products, we use neural network architectures, trained on a compilation of public spectroscopic measurements that has been cross-matched with PS1 sources.We quantify the parameter space coverage of our training data set, and flag extrapolation using self-organizing maps. We perform a Monte-Carlo sampling of the photometry to estimate photo-z uncertainty.The final catalogue contains 2, 902, 054, 648 objects. On our validation data set, for non-extrapolated sources, we achieve an overall classification accuracy of 98.1% for galaxies, 97.8% for stars, and 96.6% for quasars.Regarding the galaxy photo-z estimation, we attain an overall bias of ∆z norm = 0.0005, a standard deviation of σ(∆z norm ) = 0.0322, a median absolute deviation of MAD(∆z norm ) = 0.0161, and an outlier fraction of O = 1.89%.The catalogue will be made available as a high-level science product via the Mikulski Archive for Space Telescopes at https://doi.org/10.17909//t9-rnk7-gr88.