Vanadium pentoxide gels have a layered structure, where V-O ribbons are separated by water that permit to intercalate a wide range of various ionic and molecular species into these gels. They have both ionic and electronic conduction. The ionic part is defined by proton diffusion and the electronic one by the electron hopping between vanadium ions of different valence states. In this review the results of a complex study concerning the physical properties of a wide range of vanadium based hydrated compounds such as H2V12−xMexO 31±δ •nH2O (Me = Mo, Ti, Cr), Me2V12O 31±δ •nH2O (Me = Li, Na, K, Rb, Cs), and MeV12O 31±δ •nH2O (Me = Mg, Ca, Ba) are presented. The basic attention is given to the description of structure, synthesis, electrical properties, and valence conditions of metal ions in the xerogels.