Rhodium oxides, including a misfit-layered structure with alternate stacking of a rock salt-type layer and a hexagonal RhO 2 layer, are expected to have good thermoelectric properties. Among them, the thermoelectric properties (electrical conductivity (σ), Seebeck coefficient (S), Figure of merit (ZT) and calculated thermal conductivity (κ) by S, σ, ZT, and absolute temperature (T)) of bismuth-based rhodium oxides ((Bi 1−x ,Pb x) 2 Sr 2 Rh 2 O y , x = 0 and 0.02, hereafter BSR and BPSR, respectively) were investigated. In comparison with Bi 2 Sr 2 Co 2 O y (BSC) at 700˚C, S and κ enhanced (increased S, 110 (BSR) and 105 μV K −1 (BPSR) from 85 μV K −1 (BSC) and decreased κ, 0.32 (BSR) and 0.50 W m −1 K −1 (BPSR) from 1.75 W m −1 K −1 (BSC)), whereas σ decreased (15 (BSR) and 31 S cm −1 (BPSR) from 70 S cm −1 (BSC)). BPSR reached the highest ZT value of 0.067 at 700˚C, compared to those of 0.056 (BSR) and 0.027 (BSC).