A combined process of electrolysis of CaO in the molten CaCl 2 and of calciothermic reduction, so-called OS process, was applied to prepare metallic vanadium directly from V 2 O 3 . The fine metallic powder containing 1860 mass ppm oxygen was obtained using 0.5mol%CaO-CaCl 2 melt for 10.8 ks at 1173 K. The oxygen level did not decrease further even when twice electricity was applied. Because the metallic vanadium could be electrochemically deoxidized to the level of 10 ppm oxygen from 1.48 %, the large amount of by-product, CaO, due to reduction and the large surface area of the fine particles are the reasons of high oxygen content in the reduced powder.