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Wiktionary
null character

n. (context computing English) A control character with the value zero.

Wikipedia
Null character

The null character (also null terminator), abbreviated NUL, is a control character with the value zero. It is present in many character sets, including ISO/IEC 646 (or ASCII), the C0 control code, the Universal Character Set (or Unicode), and EBCDIC. It is available in nearly all mainstream programming languages.

The original meaning of this character was like NOP—when sent to a printer or a terminal, it does nothing (some terminals, however, incorrectly display it as space). When electromechanical teleprinters were used as computer output devices, one or more null characters were sent at the end of each printed line to allow time for the mechanism to return to the first printing position on the next line. On punched tape, the character is represented with no holes at all, so a new unpunched tape is initially filled with null characters, and often text could be "inserted" at a reserved space of null characters by punching the new characters into the tape over the nulls.

Today the character has much more significance in C and its derivatives and in many data formats, where it serves as a reserved character used to signify the end of a string, often called a null-terminated string. This allows the string to be any length with only the overhead of one byte; the alternative of storing a count requires either a string length limit of 255 or an overhead of more than one byte (there are other advantages/disadvantages described under null-terminated string).