Producing light fuels from heavy oil by means of partial oxidation (POX) is a potential method. Chemical looping POX (CLPOX) process using active oxygen species from metal oxides can avoid the direct contact between hydrocarbon molecules and air. The key of CLPOX is the selection of oxygen carrier. In this study, bivalence metal oxides M2+ including Cu, Ni, Zn, Mg and Ca doped Fe2O3 were prepared, and their POX performances were evaluated at 550 degrees C for 1 h under atmospheric pressure by using vacuum residue as heavy oil to screen the oxygen carrier for CLPOX. The results showed that Ca doped Fe2O3 (denoted as Fe-Ca) exhibits the best POX performance with respect to the highest diesel oil yield being 39.2 wt %, and the gasoline and VGO yields are 8.5 and 27.4 wt %, separately. The characterization of the oxygen carrier revealed that the improvement of POX performance is mainly associated with the largest specific surface area and high concentration of O-. The utilization of Fe-Ca as oxygen carrier showed good regenerability after 20th cycle in CLPOX.