Scenario: One excel file (named "A") is hyper linked with another excel file(named "B").

Q - How to open File "B" but File "A" should get disappear, like web pages link. And again if I click in File "B" to open file "A" then "B" should get disappear?

This isn't as clear as you may think. What do you mean by disappear?

For a Hyperlink to do anything other activate it's linked object, you would have to employ VBA macro programming for the more complex activities... and based on what you really mean, it could get be some fairly complex VBA.