Oxidized coal is difficult to float using oily collectors in the conventional flotation process. This study was aimed at designing the flotation process, namely the oily bubble flotation process, to float oxidized coal efficiently. The flotation process using oily bubbles is thoroughly described. The study compared using oily bubbles and air bubbles to float oxidized coal. Some properties of oxidized coal are similar to lignite. Therefore, oxidized coal should also be recovered efficiently. The flotation collectors have a great effect on the flotation process of oxidized coal. The floatability of Taixi oxidized coal can be improved by surface activation or grinding. The microwave pretreatment can improve the hydrophobicity of oxidized coal by decreasing the moisture content of oxidized coal. The flotation results show that the oily bubble flotation process can obtain higher combustible matter recovery than the conventional flotation process. The flotation efficiency index using oily bubbles is also higher than that using air bubbles.