Peter Hol was born in Oslo but moved with his family to Skien when he was seven in 1890. His father worked as the city architect and fire chief for the Skien municipal administration. There, Peter stayed for about 15 years and developed his athletic skills despite having contracted the Spanish flu. He competed from 1906-20 in the Intercalated Games and three Olympic Games winning a medal each time with the Norwegian gymnastics teams: in 1906 gold and in 1908 silver in the men’s team event, in 1912 bronze in the men’s Swedish system team event, and in 1920 another silver in the men’s free system team event. Individually, his best result was the 14th place in the all-around in 1920. Representing the Christiania (Oslo) Turnforening, he won the Norwegian gymnastics championship in 1907, 1911 and 1914 in the individual all-around.
Hol also excelled in football, winning the Norwegian title three consecutive times from 1903-05 with the club Odds BK in Skien as a centre forward. As a skater, he won district championships in all distances, and as a skier, he won prizes in major competitions in Sweden in Nordic combined. In addition, Hol competed in high jump and pole vault. He worked as a chemigrapher. In 1914, he emigrated to the Unites States and later to Canada, where he married his wife Salmøy. However, he continued to represent Norway. In 1919, he became the “All-American Champion” in ski jumping in 1919 and twice in individual gymnastics. After his death, his body was returned to Norway where it was buried in Oslo.