The semiconducting properties of single‐crystal TiO2 and their changes during prolonged oxidation at elevated temperatures and under controlled oxygen activity were monitored using measurements of electrical conductivity and thermo‐electric power. Two kinetic regimes were revealed: Regime I – rapid oxidation, associated with the transport of oxygen vacancies, and Regime II – prolonged oxidation, which corresponds to the transport of titanium vacancies. The present data represent the first documented evidence for the formation and transport of titanium vacancies in TiO2. This finding allows the processing of p‐type TiO2 without the incorporation of aliovalent foreign ions. (© 2005 WILEY‐VCH Verlag GmbH & Co. KGaA, Weinheim)