Troy (Turkish: Truva or Troya) is an ancient city in what is now northwestern Turkey, made famous in Homer’s epic poem, the Iliad. According to Iliad, this is where legendary Trojan War took place. Today it is an archaeological site and a UNESCO World Heritage Site as well. It was also recently declared a national park.
The nearest main center is Çanakkale, about 30 km to the north of Troy. There are minibuses that travel to and from the Çanakkale local bus station, which is located under the bridge by the river. The trip takes ~45 minutes. From Çanakkale, the minibuses are scheduled (as of 2012/01) to leave every hour starting at 7AM with the last one at 3PM. To get back, they leave hourly starting at 9:30AM with the last one leaving at 5:30PM.
The site is 2 km off the Çanakkale-Izmir highway (D550/E87). Road signs (saying either Truva, Troya, Troy, or Troia, sometimes two of them on the same signpost) will direct you, starting from the ferry harbour in Çanakkale.
The path through the ruins is well marked, but quite rocky and slippery in places. Be sure to wear proper walking shoes.
Explore the ruins.
Troy was destroyed and rebuilt nine times over, and each of nine different layers still has something left to this day, although amateurish archaeological excavations of late 1800s damaged some of them a lot more than others. The layer that is thought to be depicted in Homer's Iliad is likely Troy VII, a portion of the legendary walls of which is still intact.
The admission fee to the site is 15 TL pp. Make sure that you don't accept any of the 'old' Turkish money as change from the admission office. You wont be able to use it outside of Troy (for some reason certain locations still accept and distribute the old 'New Turkish Lira') and you will have to change it at a bank.
Climbing up the ladders of (fake, re-constructed) Trojan horse in the entrance of the site is an inevitable part of Troy experience. Better do it on weekdays as the ladders (and the interior of the horse itself) may be crowded at weekends by schoolchildren on a schooltrip (a situation which makes climbing up and down those steep stairs rather unpleasent). Winter is a fantastic time to visit Troy, as there are very few tourists around and you may even get the fake horse to yourself.
Staying in Çanakkale and visiting Troy as a day-trip is also possible.
There are public payphones just off the entrance of the ancient city. Telephone code for the area is (+90) 286.