A novel air flooding technology based on catalyst-activated low-temperature oxidation (CLTO) has been researched by static and dynamic oxidation experiments and can be applied in light crude oil reservoirs under reservoir conditions to improve the safety and oil recovery of air flooding. The catalytic effect of additives on the oxidation behavior of three crude oils was researched. The changes in oil recovery, oxygen distribution, and oil characteristics caused by additives were researched by dynamic oxidation experiments, and the influences of crude oil types, additive injection pattern, injection volume, and injection time on the catalytic effect were also researched. The results show that metallic additives can improve the oxygen consumption capacity of crude oils. Furthermore, the addition of additives can delay the oxygen breakthrough time and reduce the oxygen content in the gas produced. During the catalytic air flooding, the oxygen injected reacts mainly with the residual oil near the injection wells, and the influence of CLTO on the properties of oil produced from light oil reservoirs is minor. The key point to guarantee the success of catalytic air flooding is to select the optimal catalyst for the reservoir oil. The preferred catalyst injection pattern is catalyst alternating air injection, and the recommended catalyst injection volume is 0.03-0.05 PV. Catalytic air flooding technology can improve the safety and widen the application of air flooding technology.