The Collaborative International Dictionary of English v.0.48:

Oxygenize \Ox"y*gen*ize\, v. t. [imp. & p. p. Oxygenized; p.
   pr. & vb. n. Oxygenizing.] (Chem.)
   To oxidize.
   [1913 Webster]

WordNet (r) 3.0 (2006):

oxygenize
    v 1: change (a compound) by increasing the proportion of the
         electronegative part; or change (an element or ion) from a
         lower to a higher positive valence: remove one or more
         electrons from (an atom, ion, or molecule) [syn:
         oxygenize, oxygenise]
    2: dehydrogenate with oxygen [syn: oxygenize, oxygenise]
    3: impregnate, combine, or supply with oxygen; "oxygenate blood"
       [syn: oxygenate, oxygenize, oxygenise, aerate]