Why do you want to know? This is not the kind of question that can be answered without context.
Did a professor assign a research project or a term paper? If so, ask the professor the difference. Are you a professor thinking about assigning a research project or term paper? If so, spell out what you mean by it; if you are confused, your class will be as well. It can be as simple as: "Class members are required to submit term papers by the third week of class. A term paper is..."
If you are in the process of arguing with a professor that you fulfilled the research-project assignment, and the professor says all you did was to turn in a term paper, then your goose is cooked. In any such argument, the professor wins.
Sorry.