505 Games has announced an next-gen port for Terraria:

The critically acclaimed sandbox adventure game, Terraria, explodes onto next gen consoles this month with an enormous amount of content, features and over 1,000 new items added to the original console game.  The popular 2D, side-scrolling, RPG adventure game will be available November 11 for PS4 in North America and November 12 for PS4 in Europe, followed by Xbox One worldwide on November 14. 

With over 1,300 crafting recipes, 150 enemies and 15 bosses to battle, players will have endless hours of fun as they literally dig to the ends of the earth, crafting with what they discover to make amazing armor, weapons and other items. Players can explore vast and vibrant worlds, encountering treacherous perils including hundreds of twisted foes, magical creatures and mighty final bosses!

PS4 players will also be able to cross-play with the PS3 and PS VITA versions of Terraria to either battle against or team up with the wider PSN community, with the added bonus of Terraria PS VITA being bundled free with Terraria PS4 for a limited period from launch!