Present invention relates to an aqueous oxidizing composition with improved stability. The object of the present invention is an aqueous composition comprising at least one oxidizing agent, salicylic acid and/or its salts and either acetaminophen or oxyquinoline and/or its salts and having a pH between 1 and 5. The composition may comprise both acetaminophen and oxyquinoline and/or its salts. The composition is useful for lightening hair colour, in oxidative hair dyeing and in permanent shaping of hair.