Approximately 130 terrestrial hypervelocity impact craters are currently known. The rate of discovery of new craters is 3 - 5 craters per year. Although modified by erosion, terrestrial impact craters exhibit the range of morphologies observed for craters on other terrestrial planetary bodies. Due to erosion and its effects on form, terrestrial craters are recognized primarily by the occurrence of shock metamorphic effects. Terrestrial craters have a set of geophysical characteristics which are largely the result of the passage of a shock wave and impact-induced fracturing. Much current work is focused on the effects of impact on Earth evolution. Previous work on shock metamorphism and the contamination of impact melt rocks by meteoritic siderophile elements provides a basis for the interpretation of the physical and chemical evidence from Cretaceous-Tertiary boundary sites as resulting from a major impact. By analogy with the lunar record and modelling of the effects of very large impacts, it has been proposed that biological and atmospheric evolution of the Earth could not stabilize before the end of the late heavy bombardment ≡3.8 Ga ago. The present terrestrial cratering rate is 5.4±2.7×10-15 km-2a-1 for a diameter ≥20 km. On a gobal scale, a major impact sufficient to cripple human civilization severely will occur on time scales of ≡106a.