Ventilation air methane (VAM) from coal mining is a low-grade energy source that can be used in combustion systems to tackle the energy crisis. This work presents a numerical analysis of the thermal and stabilization performance of a VAM-fueled thermal reversal reactor with three fixed beds. The effects of the combustion chamber/regenerator height ratio (β), heat storage materials, and porosity on the oxidation characteristics are evaluated in detail. It is shown that the regenerator temperature tends to vary monotonically with β due to the coupling effect of the gas residence time and heat transfer intensity. The optimal β is determined to be 4/6, above which the system may destabilize. Furthermore, it is found that regardless of the methane volume fraction, the regenerator with mullite inserted has the highest temperature among the heat storage materials investigated. In contrast, the temperature gradually decreases and the system becomes unstable as SiC is adopted, signifying the importance of choosing proper thermal diffusivity. Further analysis reveals that the porosity of the heat storage materials has little effect on the system stability. Decreasing the porosity can effectively reduce the oscillation amplitude of the regenerator temperature, but it also results in greater pressure losses.