Electrical breakdown is an important physical phenomenon in power equipment and electronic devices. Recently, the mechanism of AC and DC breakdown has been preliminarily revealed as electrode–dielectric interface breakdown and bulk breakdown, respectively, based on space charge dynamics through numerical calculations. However, the AC breakdown mechanism still lacks enough direct experimental support, which restricts further understanding and the design and development of electrical structures. Here, in this study, LDPE films with various thicknesses ranging from 33 μm to 230 μm were surface modified with ozone for different durations to experimentally investigate DC and AC breakdown mechanism. The results indicate that carbonyl groups (C=O) were introduced onto the film surface, forming shallow surface traps and leading to a decreased average trap depth and an increased trap density. Such a surface oxidation modulated trap distribution led to enhanced space charge injection and bulk electrical field distortion, which decreased DC breakdown strength as the oxidation duration went longer, in all film thicknesses. However, such decreases in breakdown strength occurred only in films below 55 μm under AC stresses, as the enhanced electrical field distortion at the electrode–dielectric interface was more obvious and dominating in thin films. These experimental results further confirm the proposed electrode–dielectric interface breakdown of dielectric films and provide new understandings of space charge modulated electrical breakdown, which fulfills dielectric breakdown theory and benefits the miniaturization of power equipment and electronic devices.