The purpose of this study is to investigate the transfer behavior of oxygen during the submerged arc welding process using CaF2-SiO2-CaO fluxes. In contrast to previous research that only focused on the final oxygen content in the final weld metal, this study introduces two new parameters, ΔdO and ΔwO, to quantify the oxygen transfer in essential regions: the droplet and weld pool zones, respectively. The transfer behavior of oxygen is analyzed by using typical Multi-Zone and equilibrium models. The results indicate that the Multi-Zone model is capable of capturing the metallurgical processes of oxidation and subsequent reduction during the submerged arc welding process. Moreover, the Multi-Zone model demonstrates superior predictive accuracy in estimating oxygen content in the metal compared to the equilibrium model. Based on measured values and metallurgical data, this article analyzes the oxygen transfer mechanism and non-equilibrium state in the submerged arc welding process from both thermodynamic and kinetic perspectives. Then, scientific hypotheses previously put forward are validated and discussed, which may offer valuable insights and practical guidance for flux design.