High-quality epitaxial p-type V2O3 thin films have been synthesized by spray pyrolysis. The films exhibited excellent electrical performance, with measurable mobility and high carrier concentration. The conductivity of the films varied between 115 and 1079 Scm−1 while the optical transparency of the films ranged from 32 to 65% in the visible region. The observed limitations in thinner films’ mobility were attributed to the nanosized granular structure and the presence of two preferred growth orientations. The 60 nm thick V2O3 film demonstrated a highly competitive transparency-conductivity figure of merit compared to the state-of-the-art.