Banquo is a particularly dangerous threat to Macbeth because he is also aware of the witches' prophecies. Macbeth knows that Banquo suspects him of killing King Duncan, and he fears that Banquo may try to expose him. He also believes that Banquo's son, Fleance, is a potential rival for the throne.
By hiring murderers to kill Banquo and Fleance, Macbeth hopes to eliminate any potential threats to his power. He is ultimately successful in killing Banquo, but Fleance escapes. This proves to be a costly mistake, as Fleance later grows up to become a leader of the rebellion against Macbeth.