Oxidative processing (i.e., “aging”) of organic aerosol particles in the troposphere affects their cloud condensation nuclei (CCN) activity, yet the chemical mechanisms remain poorly understood. In this study, oleic acid aerosol particles were reacted with ozone while particle chemical composition and CCN activity were simultaneously monitored. The CCN activated fraction at 0.66 ± 0.06% supersaturation was zero for 200 nm mobility diameter particles exposed to 565 to 8320 ppmv O3 for less than 30 s. For greater exposure times, however, the particles became CCN active. The corresponding chemical change shown in the particle mass spectra was the oxidation of aldehyde groups to form carboxylic acid groups. Specifically, 9-oxononanoic acid was oxidized to azelaic acid, although the azelaic acid remained a minor component, comprising 3−5% of the mass in the CCN-inactive particles compared to 4−6% in the CCN-active particles. Similarly, the aldehyde groups of α-acyloxyalkylhydroperoxide (AAHP) products were also oxidized to carboxylic acid groups. On a mass basis, this conversion was at least as important as the increased azelaic acid yield. Analysis of our results with Köhler theory suggests that an increase in the water-soluble material brought about by the aldehyde-to-carboxylic acid conversion is an insufficient explanation for the increased CCN activity. An increased concentration of surface-active species, which decreases the surface tension of the aqueous droplet during activation, is an interpretation consistent with the chemical composition observations and Köhler theory. These results suggest that small changes in particle chemical composition caused by oxidation could increase the CCN activity of tropospheric aerosol particles during their atmospheric residence time.