The propane oxidative dehydrogenation (ODH) reaction has been considered as an alternative method for propene production owing to its exothermic nature, which renders it environmentally friendly. The use of alkaline promoters for supported V catalysts can increase propene selectivity and partially inhibit the formation of CO and CO2. Our goal was to evaluate the promoting effect of K and Na and the support effect using gibbsite as precursor for the propane ODH reaction. Catalysts were prepared via co-impregnation of V and alkali metals on a previously prepared alumina support and were characterized using N2 adsorption-desorption, X-ray diffraction, temperature-programmed reduction, and isopropanol decomposition tests to evaluate their acid-base properties. The activity of the synthesized catalysts for the propane ODH reaction was evaluated at the O2:C3H8:He molar ratios of 5:2:4, 6:1:4, and 4:3:4. The addition of alkali metals to the V catalysts increased propane conversion and propene selectivity; moreover, both parameters increased with increasing molar fraction of O2 in the reactants. K doping increased the propene selectivity of the doped catalysts, because it inhibited a large fraction of catalytic surface acidic sites. A high molar fraction of O2 in the reactants facilitated the regeneration of the catalyst, whereas a high reoxidation rate improved catalytic activity and propene selectivity.