You need to open your router's configuration web-page, then enter your computer's IP address in the port-forwarding section and specify 7777 for the port (Terraria's default). read more
For server set-up tips, see Guide: Setting up a Terraria server. For lists of existing multiplayer servers, see Multiplayer. A Terraria server provides a platform for players to connect over the internet or other network for multiplayer games. read more
Terraria server port is nothing but the port which is being hosted by a terraria server. A default terraria server port is four 7s which is 7777 eg. 192.168.1.2: 7777 which is a local host but if the server is port forwarding it will be your ip with a Colin and the port number. read more
Then you’ll need to create an entry for Terraria, specifying the IP address of your computer and the port to forward which in the case of Terraria, is 7777 (it used to be 31337). read more