The iPhone does not currently provide functionality to hide applications. If you don't want an app showing on your home page then you'll simply have to delete it. This can be very frustrating.
Here recently I did a Google search see if I could find a way to hide my apps and I found several applications that could do just that.
I tried AppLock and Leo Privacy Guard.
AppLock was OK but it requires you to pay for a premium upgrade to access all of the features. That's a turn off for me.
Leo Privacy Guard is most likely what I'll be sticking with. It provides even more functionality than AppLock and is completely free.
So if you'd like to be able to hide your iPhone apps then I definitely recommend Leo Privacy Guard.