The Hypostatic Union is a fancy term in theology to say that Jesus is both God and man at the same time. This is important because there a lot of people who try and say the Jesus wasn't all God and all man. That He was maybe 50/50, or maybe a man who became God. However, neither are true. Jesus is both 100 percent God, and 100 percent man. This is a Biblical doctrine that one needs to believe in to be saved because if misunderstood or not accepted then we risk not believing in the God of the Bible.
Enjoy!