A molecular level understanding of the properties of electroactive vanadium species in aqueous solution is crucial for enhancing the performance of vanadium redox flow batteries. Here, we employ Car-Parrinello molecular dynamics simulations based on density functional theory to investigate the hydration structures, first hydrolysis reaction, and diffusion of aqueous V2+, V3+, VO2+, and VO2+ ions at 300 K. The results indicate that the first hydration shell of both V2+ and V3+ contains six water molecules, while VO2+ is coordinated to five and VO2+ to three water ligands. The first acidity constants (pK(a)) estimated using metadynamics simulations are 2.47, 3.06, and 5.38 for aqueous V3+, VO2+, and VO2+, respectively, while V2+ is predicted to be a fairly weak acid in aqueous solution with a pK(a) value of 6.22. We also show that the presence of chloride ions in the first coordination sphere of the aqueous VO2+ ion has a significant impact on water hydrolysis leading to a much higher pK(a) value of 4.8. This should result in a lower propensity of aqueous VO2+ for oxide precipitation reaction in agreement with experimental observations for chloride-based electrolyte solutions. The computed diffusion coefficients of vanadium species in water at room temperature are found to increase as V3+ < VO2+ < VO2+ < V2+ and thus correlate with the simulated hydrolysis constants, namely, the higher the pKa value, the greater the diffusion coefficient. Published by AIP Publishing.