To explore the influence of various metal oxides on the combustion behavior of Al-based thermites, five metal oxides (Bi2O3, Fe2O3, MnO2, CuO, and MoO3), were selected and synthesized via a liquid-phase mixing method. The combustion characteristics, including reaction energy, self-propagating combustion properties, reaction pressure, and ignition delay time, were systematically investigated. The results demonstrated that the choice of metal oxide significantly impacted the combustion performance of Al-based thermites. Among them, Al-MoO3 exhibited the highest reaction energy in Ar atmosphere (4.10 kJ/g), the fastest burning rate (18.77 m/s), the highest flame temperature, and the shortest ignition delay time (1.15 s). Meanwhile, Al-Bi2O3 generated the highest peak pressure and pressurization rate, with its peak pressure being 1.9, 3.5, 14.6, and 24.3 times greater than those of Al-CuO, Al-MnO2, Al-Fe2O3, and Al-MoO3, respectively. These findings highlight the potential to regulate thermite combustion properties through strategic metal oxide selection, providing a theoretical foundation for military and industrial applications.