Vanadium oxides are known for their multioxidation states and diverse crystalline structures. Owing to their excellent interactions with molecules or ions, outstanding catalytic activities, and/or strong electron–electron correlations, nanostructured vanadium oxides have been extensively studied for energy conversion in the recent years. Here is a review of the recent advances in the development of nanostructured vanadium oxides and their applications. The synthesis strategies and structural properties of various vanadium oxide nanostructures, including vanadium dioxide (VO2), vanadium pentoxide (V2O5), and others, are summarized. The applications of vanadium oxides in energy conversion are discussed, focusing on three important types of energy sources: chemical energy (LIBs, pseudocapacitors and fuel cells), solar energy (photovoltaics and photocatalytic hydrogen evolutions), and heat (thermoelectric generation). Finally, conclusion with our remarks on the prospects of nanostructured vanadium oxides in energy conversion are provided.