Reactive oxygen species (ROS) play essential roles in cellular processes, but aberrant generation of ROS can damage lipids, proteins, and DNA leading to pathological events such as aging and neurodegenerative diseases. Polyunsaturated fatty acids (PUFAs) are especially susceptible to such oxidative stress. This ROS-induced lipid peroxidation is a key mediator of ferroptosis, an iron-dependent, non-apoptotic form of cell death. Although lipid peroxidation is recognized as a critical event in ferroptosis, current study tools for detecting the oxidation process have limited use due to a lack of specificity toward a particular membrane type such as plasma membrane. In this study, we present LipoxPM, a novel fluorescent probe that specifically targets lipid peroxidation in plasma membrane over other cellular membranes. LipoxPM features a BODIPY-based fluorophore and an anionic sulfonate group, enhancing selective accumulation in the plasma membrane. LipoxPM was able to detect ferroptosis-related lipid peroxidation in live cells, visualizing the spatial distribution of lipid peroxidation in the cell death processes. This new probe would enable study of unknown mechanisms of ferroptosis and could potentially facilitate development of therapeutic strategies targeting oxidative stress-related diseases.