Usually, the treatment of oil sludge produced from polymer flooding (OSPPF) in offshore oilfield needs transport and incineration. It is time‐consuming and high‐economic cost. In this paper, firstly, the OSPPF in an offshore oilfield was analyzed by IR, SEM, EDS, and XRD and its formation mechanism was discussed. Then, chemical degradation was proposed according to the formation mechanism. Mixture of H₂O₂ and diethylene triamine pentacetic acid (DTPA) was chosen for the chemical degradation of OSPPF. The effects of different factors on degradation rate were studied and the national condition was obtained as follows: 3 g OSPPF, 3 g kerosene, and 9 g aqueous solutions containing 5 wt% H₂O₂+ DTPA (H₂O₂:DTPA was 1:1) were mixed at 65°C for 12 hour. After the degradation, the oil in the OSPPF can be recovered and polymer gel in the OSPPF can be destroyed completely. This chemical degradation is a good choice for treatment of OSPPF in situ.