The Collaborative International Dictionary of English v.0.48:

Deoxidize \De*ox"i*dize\, v. t. (Chem.)
   To deprive of oxygen; to reduce from the state of an oxide.
   [1913 Webster]

WordNet (r) 3.0 (2006):

deoxidize
    v 1: to remove oxygen from a compound, or cause to react with
         hydrogen or form a hydride, or to undergo an increase in
         the number of electrons [syn: deoxidize, deoxidise,
         reduce] [ant: oxidate, oxidise, oxidize]