A comprehensive study of photodegradation processes in optical sensing materials caused by photosensitized singlet oxygen in different polymers is presented. The stabilities of the polymers are accessed in the oxygen consumption measurements performed with help of optical oxygen sensors. Polystyrene and poly(phenylsilesquioxane) are found to be the most stable among the polymers investigated, whereas poly(2,6-dimethyl-p-phenylene oxide) and particularly poly(methyl methacrylate) and their derivatives show the fastest oxygen consumption. The effect of the stabilizers (singlet oxygen quenchers) on the oxygen consumption rates, the photostability of the sensitizer, and the total photon emission (TPE) by singlet oxygen is studied. 1,4-Diazabicyclo[2.2.2]octane (DABCO) was found to significantly reduce both the TPE and the oxygen consumption rates, indicating its role as a physical quencher of singlet oxygen. The addition of DABCO also significantly improved the photostability of the sensitizer. The N-alkylated derivative of DABCO and DABCO covalently grafted to the polystyrene backbone are prepared in an attempt to overcome the volatility and water solubility of the quencher. These derivatives as well as other tertiary amines investigated were found to be inefficient as stabilizing agents, and some of them even negatively affected the oxygen consumption rates.