The study explores use of hydrodynamic cavitation and various oxidants for treating wastewater containing Reactive Violet 1 dye. Study of impact of operational variables demonstrated that most favorable conditions for maximum degradation of 70.9 % were pH of 2.5, pressure of 4 bar, and use of dual slit venturi. When the optimized conditions were employed in combination with hydrogen peroxide (75 ppm i.e. 2.2 mM as optimum loading), Fenton reagent (H2O2/Fe2+ ratio of 1:0.125), KPS (100 ppm i.e. 0.037 mM) and NaOCl (100 ppm i.e. 1.343 mM), enhanced degradation as 93.7 %, 97.5 %, 92.3 % and 85.1 % respectively were seen. The decolorization of the dye exhibited second-order kinetics in each approach. Analysis for toxicity assessment, cavitational yield and treatment cost, elucidated that HC + Fenton method is the most effective giving 97.5 % of degradation at an operating cost of 1.78 Rs/L (0.021 $/L) within 30 min treatment.