Halley's Comet is a considered a short-period comet visible from Earth every 75–76 years. Its last appearance in our sky was in 1986. Therefore, it is expected to appear again in mid-year of 2061 or about 45 years from 2016.

Halley's returns to the inner Solar System have been observed and recorded by astronomers since at least 240 BC. Clear records of the comet's appearances were made by Chinese, Babylonian, and medieval European chroniclers, but were not recognized as reappearances of the same object at the time. The comet's periodicity was first determined in 1705 by English astronomer Edmond Halley, after whom it is now named.

If you are currently under 40 years old your chances of seeing this phenomenon are reasonably high. Check life expectancy tables for an estimate.

More Info: en.wikipedia.org