Oxygen is always a constituent in "real" titanium alloys including titanium alloy powders used for powder-based additive manufacturing (AM). In addition, oxygen uptake during powder handling and printing is hard to control and, hence, it is important to understand and predict how oxygen is affecting the microstructure. Therefore, oxygen is included in the evaluation of the thermodynamic properties of the titanium-vanadium system employing the CALculation of PHAse Diagrams method and a complete model of the O-Ti-V system is presented. The β-transus temperature is calculated to increase with increasing oxygen content whereas the extension of the α-Ti phase field into the binary is calculated to decrease, which explains the low vanadium solubilities measured in some experimental works. In addition, the critical temperature of the metastable miscibility gap of the β-phase is calculated to increase to above room temperature when oxygen is added. The effects of oxygen additions on phase fractions, martensite and ω formation temperatures are discussed, along with the impacts these changes may have on AM of titanium alloys.