A topical wound treatment composition comprises a hydrogen peroxide generator; alkaline powder; not more than 5 percent by weight of water; additional topical active agent if desired, and emollient (preferably hygroscopic emollient) to balance. When topically applied to a wound and water from the surrounding environment diffuses into the composition, the hydrogen peroxide generator and/or the alkaline compound diffuse into one another, causing a chemical reaction that generates treatment-effective amounts of oxygen to occur. The oxygen can then diffuse out of the composition and aid in wound treatment or healing.