This article discusses solubility, absorptivity, explosivity, as well as thermodynamic, spectral, structural, and other physical properties of ozone in the gaseous, liquid, and solid states; it reviews both organic and inorganic chemistry and offers various analytical methods for determining ozone in the solution and the gas phase. It examines, from a mechanistic viewpoint, not only the thermal and photochemical decomposition of gaseous and aqueous ozone, but also its generation, including gas preparation, electrical requirements and characteristics, efficiency, costs, and design. In addition, the article investigates atmospheric ozone formation in the troposphere and the stratosphere from the standpoint of photochemical smog, surveying the effect of natural and anthropogenic contaminants on ozone decomposition. Finally, the article considers numerous health and safety issues, including such topics as the depletion of ozone layer, environmental and human exposure, and ozone disinfection by‐products. Ozone can be used in drinking water, high purity water for bottling and canning plants, as well as the pharmaceutical and electronics industry; it can be used to bleach textiles and natural products, to control industrial wastewater pollution and sewage, to disinfect wastewater as well as water for large aquariums and shrimp hatcheries, to treat process water, swimming pools, and spas; it can also be used for pulp bleaching, organic synthesis, medical applications, and food preservation.