The present disclosure is directed to systems and methods for low-CO2 emission combustion of liquid fuel with a gas-assisted liquid fuel oxygen reactor. The system comprises an atomizer that sprays fuel and CO2 into an evaporation zone, where the fuel and CO2 is heated into a vaporized form. The system comprises a reaction zone that receives the vaporized fuel and CO2. The system includes an air vessel having an air stream, and a heating vessel adjacent to the air vessel that transfers heat to the air vessel. The system comprises an ion transport membrane in flow communication with the air vessel and reaction zone. The ion transport membrane receives O2 permeating from the air stream and transfers the O2 into the reaction zone resulting in combustion of fuel. The combustion produces heat and creates CO2 exhaust gases that are recirculated in the system limiting emission of CO2.