The global problem of microplastics in the environment is “inspiring” scientists to find environmentally friendly and economically viable methods to remove these pollutants from the environment. Advanced oxidation processes are among the most promising methods. In this work, the potential of Fenton, photo-Fenton, and Fenton-like processes for the degradation of microplastics from low-density polyethylene (LDPE), polypropylene (PP), and poly(vinyl chloride) (PVC) in water suspensions was investigated. The influence of three parameters on the efficiency of the degradation process was tested: the pH of the medium (3–7), the mass of added iron (10–50 times less than the mass of microplastics), and the mass of added H2O2 (5–25 times more than the mass of added iron). The effectiveness of the treatment was monitored by FTIR-ATR spectroscopy. After 60-min treatments, the PP microparticles were found to be insensitive. In the Fenton treatment of PVC and the photo-Fenton treatment of LDPE and PVC, changes in the FTIR spectra related to the degradation of the microplastics were observed. In these three cases, the treatment parameters were optimized. It was found that a low pH (3) and a high iron mass (optimal values were 1/12 and 1/10 of the mass of the microplastics for LDPE and PVC, respectively) favored all three. The degradation of LDPE by the photo-Fenton treatment was favored by high H2O2 concentrations (25 times higher than the mass of iron), while these concentrations were significantly lower for PVC (11 and 15 times for the Fenton and photo-Fenton treatment, respectively), suggesting that scavenging activity occurs.