Tibia has night.
It gets darker at night, so players may use various items/spells to provide light to themselves. Midnight in Tibia is on the hour in real life.
Some creatures can only be seen at night, such as the statues that come to life inside the Museum of Tibian Arts. There are also places in the map, such as Feyrist, that changes between day and night. For this purposes, it's night between 6:00 p.m. and 6:00 a.m., which in real life means hh:45 and hh:15.
In Tibia the full day and night cycle lasts real life 1 hour. For more information see Time.
The Ambient light slider in the advanced graphical settings was introduced to combat the unfair advantage of Light Hacks.