Different from conventional radar systems, for the single-photon radar, a single-photon detector acts as the receiver to detect the echo signal with only a few photons, which can be used to achieve ultrahigh sensitivity for long-distance target detection. In this letter, the heterodyne single-photon radar at terahertz frequencies is studied, for the first time. First, the working principle of the developed heterodyne single-photon radar is presented, and the target echo signal is derived. Subsequently, the estimation method of the target distance and the Doppler frequency is proposed, and the performance is analyzed by probability density function (PDF) derivation. Simulation results show good agreement with the theoretical analysis. This work can pave the way to the development of a new radar paradigm.