In order to lea more about the physical phenomena occurring in cloud cavitation, the nonlinear dynamics of a spherical cluster of cavitation bubbles and cavitation bubbles in cluster in an acoustic field excited by a square pressure wave are numerically investigated by considering viscosity, surface tension, and the weak compressibility of the liquid. The theoretical prediction of the yield of oxidants produced inside bubbles during the strong collapse stage of cavitation bubbles is also investigated. The effects of acoustic frequency, acoustic pressure amplitude, and the number of bubbles in cluster on bubble temperature and the quantity of oxidants produced inside bubbles are analyzed. The results show that the change of acoustic frequency, acoustic pressure amplitude, and the number of bubbles in cluster have an effect not only on temperature and the quantity of oxidants inside the bubble, but also on the degradation types of pollutants, which provides a guidance in improving the sonochemical degradation of organic pollutants.