Oil-air two-phase flow measurement was investigated with a Venturi and void fraction meters in this work. This paper proposes a new flow rate measurement correlation in which the effect of the velocity ratio between gas and liquid was considered.With the pressure drop across the Venturi and the void fraction that was measured by electrical capacitance tomography apparatus,both mixture flow rate and oil flow rate could be obtained by the correlation. Experiments included bubble-, slug-, wave and annular flow with the void fraction ranging from 15% to 83%, the oil flow rate ranging from 0.97 kg/s to 1.78 kg/s, the gas flow rate ranging up to 0.018 kg/s and quality ranging nearly up to 2.0%. The root-mean-square errors of mixture mass flow rate and that ofoil mass flow rate were less than 5%. Furthermore, coefficients of the correlation were modified based on flow regimes, with the results showing reduced root-mean-square errors.