Abstract Oxygen vacancies in catalyst systems play a crucial role in manipulating pivotal redox properties that are strongly dependent on the composition of the material. Herein, for the first time, experimental evidence of a linear correlation between the extent of oxygen vacancy formation in the La 0.6 Sr 0.4 BO 3 (B=Cr, Mn, Fe, Co, and Ni) perovskite series and H 2 generation in two‐step thermochemical water splitting is reported, with detailed materials characterization by means of thermogravimetric analysis, XRD, SEM, TEM, and energy‐dispersive X‐ray spectroscopy. Noteworthy O 2 (718 μmol g −1 ) and H 2 (514 μmol g −1 ) production was achieved by the La 0.6 Sr 0.4 CoO 3 perovskite in the thermochemical water‐splitting process conducted between 1300 and 900 °C.