Ozone (O3) has attracted considerable attention due to its harmful effects on the ecosystem and human health. The Yangtze River Delta (YRD), China in particular has experienced severe O3 pollution in recent years. Here, we conducted a long-term observation of O3 in YRD to reveal its characteristics. The O3 concentration in autumn was the highest at 72.76 ppb due to photochemical contribution and local convection patterns, with its lowest value of 2.40 ppb in winter. O3 exhibited strong diurnal variations, showing the highest values in the early afternoon (15:00–16:00) and the minimum in 07:00–08:00, specifically, peroxyacetyl nitrate (PAN) showed similar variations to O3 but PAN peak usually occurred 1 h earlier than that of O3 due to PAN photolysis. A generalized additive model indicated that the key factors to O3 formation were NO2, PAN, and temperature. It was found that a certain temperature rise promoted O3 formation, whereas temperatures above 27 °C inhibited O3 formation. An observation-based model showed O3 formation was VOCs-limited in spring and winter, was NOx-limited in summer, and even controlled by both VOCs and NOx in autumn. Thus, prevention and control strategies for O3 in the YRD are strongly recommended to be variable for each season based on various formation mechanisms.