Troy was the setting of the Trojan War described in the Greek Epic Cycle, in particular in the Iliad, one of the two epic poems attributed to Homer. Metrical evidence from the Iliad and the Odyssey suggests that the name Ἴλιον (Ilion) formerly began with a digamma: Ϝίλιον (Wilion); this is also supported by the Hittite name for what is thought to be the same city, Wilusa.
A new capital called Ilium (from Greek Ilion) was founded on the site in the reign of the Roman Emperor Augustus. It flourished until the establishment of Constantinople, became a bishopric and declined gradually in the Byzantine era, but is now a Latin Catholic titular see.
In 1865, English archaeologist Frank Calvert excavated trial trenches in a field he had bought from a local farmer at Hisarlık, and in 1868, Heinrich Schliemann, a wealthy German businessman and archaeologist, also began excavating in the area after a chance meeting with Calvert in Çanakkale. These excavations revealed several cities built in succession. Schliemann was at first skeptical about the identification of Hisarlik with Troy, but was persuaded by Calvert and took over Calvert's excavations on the eastern half of the Hisarlik site, which was on Calvert's property. Troy VII has been identified with the city that the Hittites called Wilusa, the probable origin of the Greek Ἴλιον, and is generally (but not conclusively) identified with Homeric Troy.
Today, the hill at Hisarlık has given its name to a small village near the ruins, which supports the tourist trade visiting the Troia archaeological site. It lies within the province of Çanakkale, some 30 km south-west of the provincial capital, also called Çanakkale. The nearest village is Tevfikiye. The map here shows the adapted Scamander estuary with Ilium a little way inland across the Homeric plain.
Troy was added to the UNESCO World Heritage list in 1998.