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With the advent of portable 360° cameras, panorama has gained significant attention in applications like virtual reality (VR), virtual tours, robotics, and autonomous driving. As a result, wide-baseline panorama view synthesis has emerged as a vital task, where high resolution, fast inference, and memory efficiency are essential. Nevertheless, existing methods typically focus on lower resolutions ($512 \times 1024$) due to demanding memory and computational requirements. In this paper, we present $\textbf{PanSplat}$, a generalizable, feed-forward approach that efficiently supports $\textbf{resolution up to 4K}$ ($2048 \times 4096$). Our approach features a tailored spherical 3D Gaussian pyramid with a Fibonacci lattice arrangement, enhancing image quality while reducing information redundancy. To accommodate the demands of high resolution, we propose a pipeline that integrates a hierarchical spherical cost volume and localized Gaussian heads, enabling two-step deferred backpropagation for memory-efficient training on a single A100 GPU. Experiments demonstrate that PanSplat achieves state-of-the-art results with superior efficiency and image quality across both synthetic and real-world datasets.