VO2(B), VO2(M), and V2O5 are the most famous compounds in the vanadium oxide family. Here, their gas-sensing properties were investigated and compared. VO2(B) nanoflakes were first self-assembled via a hydrothermal method, and then VO2(M) and V2O5 nanoflakes were obtained after a heat-phase transformation in nitrogen and air, respectively. Their microstructures were evaluated using X-ray diffraction and scanning and transmission electron microscopies, respectively. Gas sensing measurements indicated that VO2(M) nanoflakes were gas-insensitive, while both VO2(B) and V2O5 nanoflakes were highly selective to ammonia at room temperature. As ammonia sensors, both VO2(B) and V2O5 nanoflakes showed abnormal p-type sensing characteristics, although vanadium oxides are generally considered as n-type semiconductors. Moreover, V2O5 nanoflakes exhibited superior ammonia sensing performance compared to VO2(B) nanoflakes, with one order of magnitude higher sensitivity, a shorter response time of 14–22 s, and a shorter recovery time of 14–20 s. These characteristics showed the excellent potential of V2O5 nanostructures as ammonia sensors.