That is what my Oscar did. He (or she, not sure) lived with a Blood Parrot for over a year. They grew up together since they were both 2" long. I never saw them fight or chase each other once. They even slept in the same flower pot together. Then one day my Oscar started chasing after my BP with his mouth open. He would just corner my BP in a hole in the driftwood, and wouldn't let him out. I tried rearraning the tank, adding new tankmates, lowering the temp (since this happened during the warm summer months), and nothing seemed to work. I finally had to get rid of my BP before my Oscar did some serious damage. I thought it was weird that it happened so fast. One minute they were fine, and the next minute my Oscar was intollerant. My Oscar still attacks the glass once in a while ( I think he sees his reflection, or he gets a wild hair up his butt). A few other people told me that it happened with their oscar too. They just said that when an Oscar is growing up they have very different personalities then when they are young.
You could try seperating the larger Oscar in another tank (if you have one, or a bucket will do). Leave the little one in the tank, rearrange the tank and then a few hours later put the big one back in. If you have another tank for the larger one, it would be better to add him back to the tank a few days or weeks later so the little one gets to have reign of the tank. Then when you add the larger one he will be the new one and maybe he wont be such a bullie.
Just my experience. Hope it helps.