To cope with global warming and increasing carbon emissions, the chemical looping process has attracted attention due to its excellent ability to convert fossil fuel and capture CO2. In this case, chemical looping partial oxidation technology has become the focus of attention due to its advantages in the production of syngas and hydrogen, especially with respect to the design and selection of oxygen carriers, which directly affect the efficiency of the production of syngas and hydrogen. In particular, the conversion of methane can reach 95% in the chemical looping partial oxidation of methane, and the selectivity of syngas, in the range of 700 °C to 900 °C at atmospheric pressure, can reach 99% for twenty or more cycles. In this review, from the perspective of metal oxide selection and structure regarding the chemical looping partial oxidation process, we discuss the role of oxygen carriers in the chemical looping partial oxidation cycle, in which the specific surface area, the lattice oxygen mobility, and the thermal stability are understood as the important factors affecting reactivity. We hope to summarize the design and development of efficient oxygen carriers with high oxygen-carrying capacity and syngas selectivity, as well as contribute to the selection, design, optimization, and redox reaction mechanism of redox catalysts.