Heterogeneous catalysts, which allow a reductive activation of dioxygen (O2) under mild reaction conditions, are promising candidates for highly efficient aerobic oxidation. An effective hexagonal SrMnO3 (SMO) perovskite catalyst for liquid‐phase selective oxidation with O2 was successfully synthesized by the polymerized complex method. The activity of SMO for the aerobic oxidation of alcohols was higher than those of typical manganese oxide‐based catalysts and was heterogeneous, so that the recovered catalyst could be reused without heat treatment under oxidative conditions while keeping its high catalytic performance. The reversible reaction on the surface Mn species on SMO with O2 leads to the formation of Mn–superoxo species, which catalyze the selective oxidative transformation of various types of organic substrates into the desired oxygenated or dehydrogenated products.