The balanced chemical equation for the reaction between hydrochloric acid (HCl) and calcium hydroxide (Ca(OH)2) is:

2HCl + Ca(OH)2 → CaCl2 + 2H2O

In this reaction, hydrochloric acid donates two hydrogen ions (H+) to calcium hydroxide, resulting in the formation of calcium chloride (CaCl2) and water (H2O).