The Seebeck coefficient, Q, of ternary 40TeO2–(60 − x)V2O5–xMoO3 bulk glasses was measured in the temperature range 260–450K. The thermoelectric power at 400K was measured and was in the range from −677 to −501µVK−1 for TeO2–V2O5–MoO3 glasses. For the present glass systems, Heikes’ formula was satisfied and a small polaron hopping conduction mechanism was confirmed, which was in agreement with the results of dc electrical conductivity measurement of these glasses. The 40TeO2–50V2O5–10MoO3 glass system had the highest power factor, Q2 σ, and probably the highest figure of merit among the others.