We have evaluated the power factor of transition metal oxides at high temperatures using the Heikes formula and the Ioffe–Regel conductivity. The evaluated power factor is found to be nearly independent of carrier concentration in a wide range of doping, and explains the experimental data for cobalt oxides well. This suggests that the same power factor can be obtained with a thermopower larger than 2kB/e, and also suggests a reasonably high value of the dimensionless figure of merit ZT. We propose an oxide thermoelectric power generator by using materials having a thermopower larger than 300 μV/K.