Depilation means hair removal. In detail: "pilus" is Latin for "hair" and putting the "de" in front of it, in medical terminology, means to deprive or be rid of. Putting "ation" at the end of the word, in English, makes it into an action.
Shaving is the most common method of depilation in the world. Using a very sharp blade, hair is cut down to be flush with the skin. Waxing is also another method of removing hair from the body.