The three-reactor chemical-looping process (TRCL) for the production of hydrogen from natural gas is quite attractive for both CO₂ capture and hydrogen production. The TRCL process consists of a fuel reactor, a steam reactor and an air reactor. In the fuel reactor, natural gas is oxidized to CO₂ and H₂O by the lattice oxygen of the oxygen carrier. In the steam reactor, the steam is reduced to hydrogen through oxidation of the reduced oxygen carrier. In the air reactor, the oxygen carrier is fully oxidized by air. In this process, the oxygen carrier is recirculated among the three reactors, which avoids direct contact between fuel, steam and air. In this study, various candidate materials were proposed for the oxygen carrier and support, and a thermal analysis of the process was performed. The oxygen carrier for the process must have the ability to split water into hydrogen in its reduced state, which is a different chemical property from that of the chemical-looping combustion medium. The selection of the oxygen carrier and support require careful consideration of their physical and chemical properties. Fe₂O₃, WO₃ and CeO₂ were selected as oxygen carriers. Thermal analysis indicated an expected hydrogen production of 2.64 mol H₂ per mol CH₄ under thermoneutral process conditions. The results indicated that hydrogen production was affected mainly by the steam-conversion rate. The solid-circulation rate and temperature drop in the fuel reactor were calculated for the selected oxygen carriers with different metal oxide contents and solid-conversion rates.