\documentclass[border=2pt]{standalone}
% Drawing
\usepackage{tikz}
% Notation
\usepackage{amsmath}
\begin{document}
\begin{tikzpicture}[line cap=round]
% %Grid
% \draw[thin, dotted] (0,0) grid (8,8);
% \foreach \i in {1,...,8}
% {
% \node at (\i,-2ex) {\i};
% }
% \foreach \i in {1,...,8}
% {
% \node at (-2ex,\i) {\i};
% }
% \node at (-2ex,-2ex) {0};
% Axis
\draw[thick, -latex] (-2ex,0) -- (8,0) node[below] {$r$};
\draw[thick, -latex] (0,-2.5) -- (0,5) node[left] {$V_\text{eff}$};
% Plot Function
\draw[domain=0.177:7.5, samples=400, variable=\r, very thick] plot ({\r},{0.3/(\r*\r)-0.9/\r});
\draw[domain=0.6:7.5, samples=300, variable=\r, thick, dashed, red] plot ({\r},{1/(\r*\r)});
\draw[domain=0.46:7.5, samples=300, variable=\r, thick, dashed, blue] plot ({\r},{-1/(\r)});
% Dashed
\draw[dashed] (2/3,0) -- +(0,-0.65) node[pos=0, above] {$r_o$};
\draw[dashed] (2/3,-0.68) -- (0,-0.68);
% Nodes
\node at (0.6,3.5) {$V_\text{eff}$};
\node[red] at (1.3,1.5) {$1/r^2$};
\node[blue] at (1.4,-1.5) {$-1/r$};
\end{tikzpicture}
\end{document}
Effective_Potential.tex