Wastewater aeration is an important unit operation that provides dissolved oxygen for microorganisms in wastewater treatment. In this study, the impact of peracetic acid (PAA) dosing on wastewater aeration was assessed in terms of oxygen transfer, visual observation of bubble size changes, and evolution of dissolved oxygen from PAA (and HO) decomposition. Oxygen transfer coefficients improved with PAA concentrations of up to 7 mg/L, which was probably due to the smaller bubbles being formed from the aeration diffuser and evolution of small bubbles from PAA (and HO) decomposition. At a PAA concentration higher than 7 mg/L, the accumulation of acetate molecules to the gas-liquid interface of bubbles likely began to counteract the positive impact of bubble size decrease by increasing the mass transfer resistance of oxygen from bubbles to water. Finally, a continuous bench-scale primary effluent aeration experiment demonstrated that at a continuous PAA dosing of 1 mg/L, the air input by a compressor could be decreased by 54%, while keeping the oxygen level constant at approximately 1.5 mg/L. PAA dosing could be combined, for example, with aerated grit removal to enhance the primary effluent aeration together with additional benefits of partial disinfection and odor formation prevention.