truncate is a DDL statement.Delete ia DML statement
Truncate works faster than delete as data need not be written to rollback segments.
Trunacte cannot be rolled back delete can be rolled back
Truncate releases storage space delete doesnt release storage space
Truncate does not work when foriegn key is enabled
Delete trigger does not fire on truncate
Truncate requires DELETE TABLE privilege if the user does not own the table