Abstract: The present invention is directed to a formulation and associated method for neutralizing one or more toxic chemical and/or materials including toxic industrial chemicals and toxic industrial materials, such as irritants, heavy metals, radioactive metals, acids and acid irritants, pesticides, and various agricultural chemicals, (collectively referred to as toxic chemical, materials, or simply toxins) as well as decontaminating surfaces that have come into contact with these agents. As a result, the formulation of the present invention can be used for neutralizing a broad spectrum of toxic chemicals and materials. In one embodiment, the active ingredient comprises 2, 3, butanedione monoxime (also known as diacetyl monoxime (DAM)), and alkali salts thereof such as potassium 2,3-butanedione monoxime (KBDO). The formulation also typically includes a carrier in which the active ingredient is dispersed.