The extremely cold winter of 2004/2005 was accompanied by an intensive formation of polar stratospheric clouds and a significant chemical destruction of ozone. The results of calculating chemical losses of ozone in the polar cyclone from the SAGE-III satellite data are given. Over the period January 1-March 25, 2005, at the isentropic levels 450-500 K, about 60% of ozone was destroyed. During that winter, the zone of formation of polar stratospheric clouds went down to levels with very low values of potential temperature (down to 350 K), thus resulting in a noticeable destruction of ozone at low altitudes. By March 25, 2005, the chemical losses of total ozone attained 116 ± 10 DU (128 ± 10 DU at the cyclone boundary), which is a recordbreaking value of the Arctic. © Pleiades Publishing, Ltd. 2007.