The substance that oxidises the other substances is called oxidising agent. In Sodium peroxide(Na2O2) ,oxidation number of sodium is +1. It can not increases, so it can decrease its oxidation state from +1 to 0(zero).Decrease of oxidation number is reduction and the element which is undergoes reduction is called oxidising agent.It is a very strong oxidising agent.Also it is used as a bleaching agent.It bleaches by oxidising colored compounds to colorless compounds.