Acetaminophen (APAP), a widely used pharmaceutical, is frequently detected in aquatic environments due to its persistence and limited removal by conventional wastewater treatment processes. In this study, a peracetic acid (PAA) based advanced oxidation system was developed using magnetically recoverable tungsten modified iron oxides (TI) as heterogeneous catalysts to degrade APAP without external energy. TI catalysts were synthesized via a combustion method in the presence of polyvinyl alcohol for providing their magnetic properties for easy recovery after their use. The catalytic performance of the TI/PAA system was evaluated under various conditions, showing efficient APAP degradation. Radical scavenging experiments revealed the generation of hydroxyl, acetyloxy, and acetylperoxyl radicals as dominant reactive species in the system. Degradation intermediates were identified to propose a possible APAP degradation pathway. The findings demonstrate the effectiveness of tungsten modification in enhancing the catalytic performance of iron oxides for PAA activation. This study highlights a green, energy-free, and reusable catalytic system with strong potential for the treatment of pharmaceutical micropollutants in water.