The ozone hole is not actually a hole in ozone. Its just the thinning of ozone molecules below a certain limit. This phenomenon of ozone depletion is caused by a number of natural as well as man made reasons. Natural factors include Volcanic Eruptions while the man made are the use of CFC's and halons which react with the ozone present in the ozone layer to deplete it
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The ozone layer is a layer in the IONOSPHERE... which is made up of  O_{3}  .... As the CFCs ( Chlorofluorocarbon carbon) are emitted in the
atmosphere by refrigerators, ACs.... this gas converts   O_{3}  into O_{2} .... making the layer thin and then gradually a hole.......
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As abhilash has written, it is the thinning of ozone layer...
Ozone hole doesn't mean there is actually a hole in ozone layer...
there can be...but not necessarily
ok....... so i corrected................ see it