Bi0 has been used as a catalyst for the oxidative C−C bond cleavage under O2 of α‐ketols, α‐hydroxy acids and terminal epoxides, to give the corresponding carboxylic acids. The results are compared to those obtained in similar oxidation reactions catalysed by BiIII carboxylates. These reactions constitute the first example of the catalytic use of Bi0 in oxidation reactions, and the first evidence for a BiIII/Bi0 redox couple under molecular oxygen.