Frustrated Lewis Pairs (FLP) have found exciting access in catalysis and small molecule activation. Here, we describe the potential of two vanadium(V) oxido complexes with monoanionic bidentate N,O donors, [VOCl(LCF3)2] (1a), [VOCl(LH)2] (1b) as bases in FLPs. Upon reaction of 1a with the Lewis acid B(C6F5)3 the FLP [VOCl(LCF3)2]/B(C6F5)3 (1a/B(C6F5)3) was observed. Addition of Ph3SiH led to the reduction of VV to VIV under formation of the adduct [V{OB(C6F5)3}(LCF3)2] (2a) while FLP reactivity was not observed. Dissolving 2a in CH3CN leads to the VIV oxido complex, [VO(LCF3)2] (3a). In contrast, when 1b was reacted with B(C6F5)3, a VIV oxido complex [VO(LH)2] (3b) was obtained. Upon addition of B(C6F5)3 to 3b no reaction leading to the expected adduct such as 2a could be observed. Only few crystals deriving from a disproportion reaction could be identified as an adduct dimer [V{OB(C6F5)3}LH(μ‐O)]2. While FLP reactivity could not be found yet with the described systems, the redox labile nature and versatility of the metal complexes are demonstrated.