There are essentially two types of probation. One is regular probation. If the court grants a person probation, then they avoid incarceration altogether as long as county jail time is not a condition of probation. As long as the probationer does not break the law and follows all of the terms and conditions of probation, then they should be timely discharged and released from community supervision.
There is a special type of probation called deferred adjudication that is a wonderful and dangerous alternative in certain types of cases. Deferred is a type of community supervision where if the probationer successfully completes the terms and conditions and is discharged from probation then the case is dismissed. Although unless a Petition for Non-Disclosure or Expunction Motion is granted the arrest will remain on their record, no conviction will appear on the criminal history report.
However, with deferred the punishment range is not capped if the State can prove a violation of community supervision occurred and it files a Motion to Adjudicate as is the case with a Motion to Revoke Probation.