Previous attempts to synthesize and isolate (thiobisphenolate) vanadium(V) dioxido complexes had always provided their dimers containing [O=V(μ‐O)2V=O]2+ cores, and these also dominate the solution reactivity. Hence, the behavior of their parent monomers, which represent the major species in solution, has remained uncertain. Herein we report the development of a synthetic route that allowed for the successful isolation, spectroscopic investigation, and structural characterization of the monomer PPh4[SLVO2] (3) [SL2– = 2′2‐thiobis(2, 4‐di‐tert‐butylphenolate)]. For this purpose PPh4[SLVOCl2] (1) had to be accessed first in order to convert it to the ethoxido compound PPh4[SLVO(OEt)2] (2), which is more prone to hydrolysis. Treatment of 2 with stoichiometric amounts of water followed by immediate cooling to –30 °C led to crystals of 3. After its dissolution NMR spectra were recorded that were identical with those obtained after dissolution of its dimer, thus confirming the monomer/dimer equilibrium postulated previously. The molecular structure of 3 revealed the absence of a V···S interaction, which, however, stabilizes its dimer, and thus suggested the employment of a bisphenolate ligand lacking a bridging sulfur atom to obtain an analogue, which does not undergo dimerization in solution. In EtL2– the sulfur atom is replaced by an ethylmethine unit and indeed the corresponding complex NBu4[EtLVO2] (4) proved to be stable as a monomer. Investigation of its potential as a catalyst for the oxidative dehydrogenation of 9‐fluorenol confirmed a much lower reactivity in comparison to dimeric complexes, which is discussed.