The pathological mechanisms underlying neurological deficits observed in individuals born pre-maturely are not completely understood. A common form of injury in the pre-term population is periventricular white matter injury (PWMI), a pathology associated with impaired brain development. To mitigate or eliminate white matter injury, there is an urgent need to understand the pathological mechanism(s) involved on a neurobiological, structural and functional level. Recent clinical data suggests that a percentage of pre-mature infants experience relative hyperoxia. Using a hyperoxic model of pre-mature brain injury, we have previously demonstrated that neonatal hyperoxia exposure in the mouse disrupts development of the white matter (WM) by delaying the maturation of the oligodendroglial lineage. In the present study, we address the question of how hyperoxia-induced alterations in WM development affect overall WM integrity and axonal function. We show that neonatal hyperoxia causes ultra-structural changes, including i) myelination abnormalities (reduced myelin thickness and abnormal extra myelin loops) and ii) axonopathy (altered neurofilament phosphorylation, paranodal defects and changes in node of Ranvier number and structure). This disruption of axon-oligodendrocyte integrity results in the lasting impairment of conduction properties in the adult WM. Understanding the pathology of pre-mature PWMI injury will allow for the development of interventional strategies to preserve WM integrity and function.