A process of stripping a coating according to the invention comprises subjecting a coated substrate to an aqueous medium containing a peroxide and an interfacial mixing agent, and to heating preferably by either ultraviolet (UV) and/or infrared (IR) radiation. The substrate is completely stripped of the coating and suffers no damage to itself as a result of the paint debonding/dislodging process. No toxic wastes are generated from this process, nor are particulates associated with air pollution generated. The metal substrates being stripped also do not undergo corrosion or other damage as a result of the described process.