The imaginary line that divides the Earth into the Northern and Southern Hemispheres is called the Equator. The Equator is located at 0 degrees latitude and serves as a reference point for measuring latitude. It plays a significant role in climate patterns and biodiversity, as areas near the Equator generally experience warm temperatures year-round and have diverse ecosystems. The concept of the Equator is crucial in geography, navigation, and understanding global climate zones.