The invention is applicable to the field of fluidized combustion and particularly relates to an oxygen control fluidized combustion furnace. The oxygen control fluidized combustion furnace comprises a furnace body with a chamber. An air bellow is installed on the bottom of the chamber and an air distributing device is arranged in the air bellow. Box wall of the air bellow which is located below the air distributing device is connected with a fan. An air inlet pipe is installed on the fan and a valve A is plugged into the air inlet pipe. The air inlet pipe is located between the valve A and the fan and is plugged with an inert gas inlet pipe. The inert gas inlet pipe is plugged with a valve B. According to the oxygen control fluidized combustion furnace, the oxygen content of fluidized combustion smoke is controllable and adjustable, the safety of material grinding and drying can be guaranteed and the popularization and application prospects are good.