Synthesis of molybdenum(vi) dioxido complexes 1-3, coordinated by one or two functionalized iminophenolate ligands HL1 or HL2, bearing a donor atom side chain or a phenyl substituent, respectively, allowed for systematic investigation of the oxygen atom transfer (OAT) reactivity of such complexes towards phosphanes. Depending on stoichiometry and employed phosphane (PMe3 or PPh3), different molybdenum(iv) and molybdenum(v) complexes 4-7 were obtained. Whereas molybdenum(iv) complexes 4 and 5, bearing a terminal PMe3 ligand, readily reacted with molecular O2 to form oxido peroxido complexes 8 and 9, phosphane free μ-oxido bridged dinuclear molybdenum(v) complexes 6 and 7 proved to be stable towards oxidation with molecular O2 under ambient conditions. Single-crystal X-ray diffraction analyses revealed different isomeric structures in the solid state for dioxido complexes 1 and 2 in comparison with oxido phosphane complex 5, dinuclear oxido μ-oxido complex 6 and oxido peroxido complexes 8 and 9, pointing towards an isomeric rearrangement during OAT. Compounds 1 and 2 were furthermore tested for their ability to catalyze the aerobic oxidation of PMe3 and PPh3. A significant difference in catalytic activity has been observed in the oxidation of PMe3, where complex 1 bearing donor atom functionalized ligands led to higher conversion and selectivity than complex 2 coordinated by phenyl iminophenolate ligands. In the oxidation of PPh3, complex 2 leads to higher conversion compared to 1. In a control experiment, phenyl-based dinuclear μ-oxido complex 7, derived from complex 2, was found to be catalytically active, which suggests a lower energy barrier for disproportionation into [MoO(L)2] and [MoO2(L)2] in comparison with methoxypropylene based compound 6, a prerequisite for subsequent reactivity toward molecular O2.