We present a series of electron energy-loss spectroscopy (EELS) studies on niobium (Nb) and its oxides (NbO, NbO2, and Nb2O5) to develop a reliable method for quantifying the oxidation state in mixed niobium oxide thin films. Our approach utilizes a combination of transmission electron microscopy and EELS experiments with density functional theory calculations to distinguish between metallic niobium and the different niobium oxides. More specifically, the differences in the near-edge fine-structure of the Nb M-edge and O K-edge provide sufficient information to determine the valence state of niobium. Based on these observed changes in the core-loss edges, we propose a linear relationship that correlates the peak positions in the Nb M- and O K-edges with the Nb valence state. The methods developed in this paper are also applied to ultrathin niobium oxide films to examine the effects of low-temperature baking on the films’ oxidation states.