This paper uses a state-of-the-art general circulation model to study the impacts of the stratospheric ozone depletion from 1980 to 2000 and the expected partial ozone recovery from 2000 to 2020 on the propagation of planetary waves in December, January, and February. In the Southern Hemisphere (SH), the stratospheric ozone depletion leads to a cooler and stronger Antarctic stratosphere, while the stratospheric ozone recovery has the opposite effects. In the Northern Hemisphere (NH), the impacts of the stratospheric ozone depletion on polar stratospheric temperature are not opposite to that of the stratospheric ozone recovery; i.e., the stratospheric ozone depletion causes a weak cooling and the stratospheric ozone recovery causes a statistically significant cooling. The stratospheric ozone depletion leads to a weakening of the Arctic polar vortex, while the stratospheric ozone recovery leads to a strengthening of the Arctic polar vortex. The cooling of the Arctic polar vortex is found to be dynamically induced via modulating the planetary wave activity by stratospheric ozone increases. Particularly interesting is that stratospheric ozone changes have opposite effects on the stationary and transient wave fluxes in the NH stratosphere. The analysis of the wave refractive index and Eliassen-Palm flux in the NH indicates (1) that the wave refraction in the stratosphere cannot fully explain wave flux changes in the Arctic stratosphere and (2) that stratospheric ozone changes can cause changes in wave propagation in the northern midlatitude troposphere which in turn affect wave fluxes in the NH stratosphere. In the SH, the radiative cooling (warming) caused by stratospheric ozone depletion (recovery) produces a larger (smaller) meridional temperature gradient in the midlatitude upper troposphere, accompanied by larger (smaller) zonal wind vertical shear and larger (smaller) vertical gradients of buoyancy frequency. Hence, there are more (fewer) transient waves propagating into the stratosphere. The dynamical warming (cooling) caused by stratospheric ozone decreases (increases) partly offsets their radiative cooling (warming).