The Collaborative International Dictionary of English v.0.48:

Peroxidize \Per*ox"i*dize\, v. t. [imp. & p. p. Peroxidized;
   p. pr. & vb. n. Peroxidizing.] (Chem.)
   To oxidize to the utmost degree, so as to form a peroxide.
   [1913 Webster]