Wool fabrics were pretreated with hydrogen peroxide in the presence of different stabilisers; namely, sodium silicate, magnesium sulphate and imino disuccinic acid sodium salt. The effect of stabiliser type and concentration on the properties of the treated wool were studied. Imino disuccinic acid sodium salt was found to be the most effective stabiliser for hydrogen peroxide when added to the bleaching bath of wool fabric. The effect of after‐treatment of the pre‐oxidised wool fabric with commercially produced lipoprotein lipase enzyme on its dyeability with acid and reactive dyes, as well as on some of its physico‐mechanical properties, was assessed. Chemical and microscopic analyses were conducted to assess changes in the chemical composition of wool treated with this system. Wool fabrics treated with hydrogen peroxide/imino disuccinic acid sodium salt/lipoprotein lipase enzyme exhibit improved wettability and, hence, dyeability with both acid and reactive dyes, as well as enhanced resistance to felting shrinkage and pilling, without severe deterioration in the fabric’s inherent properties.