A solid-state reaction of $V_2O_5$ with AlMCM-41 followed by calcinations generated $V^{5+}$ species in the mesoporous materials. Dehydration results in the formation of a vanadyl species, $VO^{2+}$, that can be characterized by electron spin resonance (ESR). The chemical environment of the vanadium centers in V-AlMCM-41 was investigated by XRD, EDX, diffuse reflectance UV-VIS, ESR, $^{29}Si,;^{27}Al,;and;^{51}V$ NMR. It was found that the vanadium species on the wall surface and inside the wall of the hexagonal tubular wall of the V-AlMCM-41 were completely oxidized to tetrahedral $V^{5+}$ and transformed to square pyramidal by additional coordination to water molecules upon hydration. The oxidized $V^{5+}$ species on the wall surfaces and inside the wall were also reversibly reduced to $VO^{2+}$ species or lower valences by thermal process.