Research interest for a solid-state redox reaction of oxide ions (oxygen) is rapidly increasing for rechargeable battery applications. This article reviews the history and development of charge compensation mechanisms with oxide ions for electrode materials of batteries. Reversible and irreversible processes are observed after the oxidation of oxide ions, and it highly depends on the natures of chemical bonds between transition metals and oxide ions. Future possibility of high-energy lithium/sodium batteries with the oxide ion redox is also discussed.