Advanced oxidation process (AOP) is one of the most effective methods of decomposing persistent organic pollutants in water using OH radicals. The O3/H2O2 method is widely used to form OH radials for AOP; however, this method needs a continuous H2O2 supply. The continuous generation of H2O2 using plasma is appropriate for the O3/H2O2 method, since plasma is readily available anywhere electricity is. This paper presents suitable conditions for pulsed plasma generation in oxygen bubbles for effective and rapid formation of H2O2. The experimental results show that low-voltage-driven and long pulsewidth plasma is best for H2O2 generation. The highest H2O2 generation rate of 61.8 mg/h and energy yield of 2.1 g/kWh were obtained at 2.5-kV voltage, 4-kHz pulse frequency, and 1- $\mu \text{s}$ pulsewidth.