Anchor Text is clickable text that links to another page.

Anchor Text is a piece of clickable text that takes a user to another web page (i.e. hyperlink), so it is “anchoring” the content of one website to another. These links are important in SEO as well as driving traffic to your website. Best practice would state that the anchor text should be reflective of the content it is linking to but in reality a natural link profile wouldn’t look like this in its entirety so having a natural link profile will comprise a mixture of types of anchor text. And there is an excellent blog on the subject here (hint: this is anchor text) from SEM Rush.