Population is said to be
in Hardy-Weinberg equilibrium,if it has the following features:
1. Mutational Equilibrium.
2. Large Population.
3. Random Mating.
4. Immigration or emigration must not change the gene pool.
5. No selection for the fittest organism.
Huge Note: Really, there is only 1 criteria, and that is that there is no change in the frequency of alleles in the population. However, this can be manifested in 5 different ways.
1. The population is very large (meaning there is no genetic drift and alleles are staying constant.
2. There are no mutation that affect the gene pool (meaning that alleles are staying constant and not randomly changing).
3. Mating between individuals in the population is random, and not sexually selected. (meaning that the alleles are staying constant and not changing in frequency to adapt to sexual selection).
4. There is no migration of individuals into or out of the population. (Which means that the alleles are staying constant. You're not kicking old ones out or bringing new ones in.
5. The genes in the population are all equally successful at reproducing. (Which means that natural selection won't select a certain combination of alleles and make them appear more frequently. Instead, the relative frequency of alleles will stay constant since there is no pressure for any combination specifically.
As you can no doubt see, Hardy-Weinberg Equilibrium only applies to a theoretical population. However, although hardy-weinberg equilibrium is not perfect, the closer the real population is to the theoretical population, the more accurate the Hardy-Weinberg principles will prove to be.