A contact lens disinfecting solution that comprises 0.5 wt.% to 6 wt.% hydrogen peroxide, or a chemical precursor of hydrogen peroxide, and a P-metal modulating compound. The presence of the P-metal modulating compound in the disinfecting hydrogen peroxide solution slows the rate at which the hydrogen peroxide is neutralized, particularly during the initial two hours, by a catalyst element that includes a P-metal. This reduction in rate of peroxide neutralization provides a more effective solution for killing certain microorganisms and fungi.