Clean out any loose material from the hole by sweeping out with a stiff broom. Ensure that the edges of the hole are firm and not loose or crumbling.
Fill very deep holes with sand or crushed gravel to within a few inches from the top of the hole. Tamp down to make sure the hole has a solid base.
Prime the area with emulsified liquid asphalt. This helps to bond the new material to the old blacktop. Clean all the debris around the area before application.
Prepare a cold-mix patching product by following manufacturer instructions. Pour 2 inches of the mix into the hole, and tamp it down.
Add the patching material a little at a time, about an inch or two each application. Then tamp down before applying another layer. On the last application, make sure the material mounds over the top of the edges of the hole. Tamp down firmly.
Allow the material to cure for 12 to 36 hours before driving on it. Wait 30 days before sealing the driveway.