Catalytic oxidation is an alternative for the transformation of volatile organic compounds. Mn and Co catalysts are the most active in oxidation reactions because of their redox properties and oxygen mobility. Co-precipitation is one of the methods most used to prepare metal oxides. In this regard and in order to understand the relationship between oxygen species and the activity of the catalysts, in this work mixed oxides of Co-Mn-Mg-Al were prepared by the co-precipitation method. The catalysts were characterized by XRD, surface area, temperature-programmed desorption of oxygen, oxygen storage capacity, 18O/16O isotopic exchange; and the catalytic activity was evaluated in the oxidation of ethyl acetate. The results indicate that manganese-containing oxides have surface adsorbed oxygen and a greater amount of oxygen susceptible to redox cycles while oxides containing cobalt show high oxygen mobility. In the oxidation of ethyl acetate, the most labile oxygens undergo redox cycles and surface adsorbed oxygens are the species involved.