This paper summarizes the main data appeared in the last years on the oxidative dehydrogenation (ODH) of short chain alkanes on supported vanadium oxide catalysts. The acid-base character of metal oxide support influences the dispersion of vanadium on the surface of the support, as well as the nature of the vanadium species. The reducibility and structure of surface vanadium oxide species and the acid-base character of catalysts, in addition to their catalytic properties in the ODH of C-2-C-4 alkanes, strongly depend on the metal oxide used as support and the vanadium loading. In this way, it appears that tetrahedral V5+-species are active and selective sites in the ODH of C-2-C-4 alkanes. The effect of the coordination number and aggregation state of surface vanadium oxide species, and the presence of acid/base sites on the catalytic behavior of supported vanadium oxide catalysts are discussed. It is concluded that these are important factors that must be considered to develop selective catalysts in ODH reactions.