CMus is a powerful, feature-rich music player for the terminal which uses the ncurses library

mp3blaster
mp3blaster is one of the most popular music players for the terminal out there. It uses the ncurses toolkit, and has features like grouping of tracks, playlists, shuffle and repeat modes.
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MOC
MOC stands for Music on Console and it is a twin-panel music player with the file browser to the left and the playlist to the right. MOC is built upon ncurses and allows shuffle, repeat, volume control.
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MOC running in Ubuntu 11.10

Herrie
Another ncurses-based music player for the terminal, Herrie is a minimalistic player that comes with playlists, support for various audio files, including Ogg and MP3, jump to next/previous song.
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mplayer
This is mplayer, the famous video/audio player and converter. However MPlayer can also be used as a command-line audio player, and it supports all the formats out there, including Ogg, FLAC, MP3 or WAV.
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SoX
Self-described as “Sound eXchange, the Swiss Army Knife of audio manipulation”, SoX is actually a powerful command-line audio manipulation tool which can also be used as a music player, using the command play music_file.
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PyTone
Written in Python, PyTone is yet another command-line audio player. Simple and clean, it supports formats like MP3 or Ogg.
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PyRadio
Another program written in Python, PyRadio is able to play Internet radio inside the terminal. To use it, download it from here, unzip the archive and then run the ./pyradio script.
Homepage

With preselected stations, PyRadio is able to play Internet radio inside a terminal

ogg123
This little command-line tool is included in the vorbis-tools package and is able to reproduce Ogg and FLAC. It’s very basic, yet very fast and useful for quickly listening to songs which are encoded in a free format.
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mpg123
Just as ogg123, only that mpg123 plays the MP3 format.
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