An oxidative enzyme is an enzyme that catalyses an oxidation reaction. Two most common types of oxidative enzymes are peroxidases, which use hydrogen peroxide, and oxidases, which use molecular oxygen. They increase the rate at which ATP is produced aerobically. An oxidative enzyme is an enzyme that catalyses an oxidation reaction. Two most common types of oxidative enzymes are peroxidases, which use hydrogen peroxide, and oxidases, which use molecular oxygen. They increase the rate at which ATP is produced aerobically.