Pretty-printing is implemented natively in JSON.stringify(). The third argument enables pretty printing and sets the spacing to use:

var str = JSON.stringify(obj, null, 2); // spacing level = 2

If you need syntax highlighting, you might use some regex magic like so:

function syntaxHighlight(json) {
    if (typeof json != 'string') {
         json = JSON.stringify(json, undefined, 2);
    }
    json = json.replace(/&/g, '&amp;').replace(/</g, '&lt;').replace(/>/g, '&gt;');
    return json.replace(/("(\\u[a-zA-Z0-9]{4}|\\[^u]|[^\\"])*"(\s*:)?|\b(true|false|null)\b|-?\d+(?:\.\d*)?(?:[eE][+\-]?\d+)?)/g, function (match) {
        var cls = 'number';
        if (/^"/.test(match)) {
            if (/:$/.test(match)) {
                cls = 'key';
            } else {
                cls = 'string';
            }
        } else if (/true|false/.test(match)) {
            cls = 'boolean';
        } else if (/null/.test(match)) {
            cls = 'null';
        }
        return '<span class="' + cls + '">' + match + '</span>';
    });
}

See in action here: jsfiddle

Or a full snippet provided below:

Show code snippet

function output(inp) {
    document.body.appendChild(document.createElement('pre')).innerHTML = inp;
}

function syntaxHighlight(json) {
    json = json.replace(/&/g, '&amp;').replace(/</g, '&lt;').replace(/>/g, '&gt;');
    return json.replace(/("(\\u[a-zA-Z0-9]{4}|\\[^u]|[^\\"])*"(\s*:)?|\b(true|false|null)\b|-?\d+(?:\.\d*)?(?:[eE][+\-]?\d+)?)/g, function (match) {
        var cls = 'number';
        if (/^"/.test(match)) {
            if (/:$/.test(match)) {
                cls = 'key';
            } else {
                cls = 'string';
            }
        } else if (/true|false/.test(match)) {
            cls = 'boolean';
        } else if (/null/.test(match)) {
            cls = 'null';
        }
        return '<span class="' + cls + '">' + match + '</span>';
    });
}

var obj = {a:1, 'b':'foo', c:[false,'false',null, 'null', {d:{e:1.3e5,f:'1.3e5'}}]};
var str = JSON.stringify(obj, undefined, 4);

output(str);
output(syntaxHighlight(str));

pre {outline: 1px solid #ccc; padding: 5px; margin: 5px; }
.string { color: green; }
.number { color: darkorange; }
.boolean { color: blue; }
.null { color: magenta; }
.key { color: red; }

Use the indent= parameter of json.dump() or json.dumps() to specify how many spaces to indent by:

>>> import json
>>> your_json = '["foo", {"bar": ["baz", null, 1.0, 2]}]'
>>> parsed = json.loads(your_json)
>>> print(json.dumps(parsed, indent=4))
[
    "foo",
    {
        "bar": [
            "baz",
            null,
            1.0,
            2
        ]
    }
]

To parse a file, use json.load():

with open('filename.txt', 'r') as handle:
    parsed = json.load(handle)