Transition metal oxides are of potential alternatives to precious metal catalysts for oxidation reactions. Among these earth abundant oxide catalysts, cobalt-or manganese-based spinel oxides have gained consistent interests due to their superior catalytic performances. It has been found that the octahedral sites in spinels are responsible for their catalytic activities. However, little is known to date about the parameters of the octahedrally coordinated cations that influence their activity. Herein, a series of ZnMnxCo2-xO4 (x=0~2.0) spinel oxides are investigated, employing CO oxidation as the model reaction, with the particular attention on the activity variation caused by tuning the ratio of octahedrally occupied Mn to Co. Both Mn and Co contribute to the activity with Mn cations as the primary active species when they co-exist, the intrinsic specific activity is found composition-dependence and the highest activity is given by the Mn/Co molar ratio of 0.11. The presence of Mn 4+ and Mn 3+ in a proper ratio is another key for achieving high oxidation activity and can be rationalized by the moderate oxygen adsorption during the CO oxidation, which facilitates the O vacancy refilling. This is also supported by the density function theory (DFT) calculation, showing that the high activity of ZnMn0.2Co1.8O4 originates from having the O p-band center neither too far nor too close to the Fermi level. The eg occupancy of Mn cations and the O p-band center relative to the Fermi level, which are the indexes of how the electronic structure influences the oxygen addition-and removal-related processes, are proposed to serve as the activity descriptors. This work may provide a different insight into the understanding of the activity of transition metal spinel oxides for oxidation reactions.