Rockets using unsymmetrical dimethyl hydrazine (N(CH3)2NH2) and dinitrogen tetroxide (N2O4) propellants account for about one third of all stratospheric rocket engine emissions, comparable to the solid-fueled rocket emissions. We use plume and global atmosphere models to provide the first estimate of the local and global ozone depletion caused by NO and H2O emissions from the Proton rocket, the largest hydrazine-fueled launcher in use. NO and H2O emission indices are assumed to be 20 and 350 g/kg (propellant), respectively. Predicted maximum ozone loss in the plume of the Proton rocket is 21% at 44 km altitude. Plume ozone loss at 20 km equals 8% just after launch and steadily declines to 2% by model sunset. Predicted steady state global ozone loss from ten Proton launches annually is 1.2 ¿ 10-4%, with nearly all of the loss due to the NO component of the emission. Normalized by stratospheric propellant consumption, the global ozone depletion efficiency of the Proton is approximately 66--90 times less than that of solid-fueled rockets. In situ Proton plume measurements are required to validate assumed emission indices and to assess the role of rocket emissions not considered in these calculations. Such future studies would help to establish a formalism to evaluate the relative ozone depletion caused by different rocket engines using different propellants.