The invention describes a method for treating near-wellbore zones involving the steps of injecting a magnesium metal with a catalyst into the desired area of the formation to be treated. Subsequently, combustive-oxidizing solution (COS) is injected into the zone of the formation to be treated. The COS initially reacts with the magnesium, which in turn initiates a vigorous oxidation reaction of the COS. The reaction gases and heat produced by the COS oxidation reaction are harnessed to enhance the productivity of the well by creating fractures in the treatment zone and by melting of paraffin and resin deposits in the treatment zone. As a final step, acid is injected into the formation to react with the formation thereby further enhancing the porosity of the fractures. In one embodiment, the COS uses ammonium nitrate as the oxidizer, and in another, urea or ethylene glycol may be added as a reaction fuel.