Oxford finished 5th in the league table, but were promoted back to the EFL Championship via the play-offs, beating Bolton Wanderers 2–0 in the play-off final to return to the second tier of English football for the first time in 25 years.
It was the club's 130th year in existence, their 124th of competitive football and their 75th since turning professional. This article covers the period from 1 July 2023 to 30 June 2024.
^Gorrín's contract with Oxford United expired in summer 2023 but he remained at the club as a free agent while he recovered from an injury before eventually re-signing
^On 8 January, Beadle was recalled back to Brighton from his season-long loan and was sent out on loan to Sheffield Wednesday.
^On 8 January, Mills returned back to Everton early from his season-long loan because of injury.
^On 2 January, Perkins was recalled back to Leeds early from his season-long loan.
^On 8 January, Edwards had his loan deal terminated early because of injury but he remained at Oxford United to recover, with Ipswich Town terminating his contract on 11 January.
^On 27 March, Matete's loan from Sunderland was cut-short due to a knee injury.
On May 11, The U's announced their first pre-season friendly, against Swansea City at home.[53] A week later, a second fixture was confirmed, against Bristol City.[54] A third pre-season match was announced on 23 May, against Eastleigh.[55] A day later, a fourth friendly was confirmed by the club, against Queens Park Rangers.[56]
Oxford United finished 5th in the regular 2023–24 EFL League One season, so were drawn against 4th-placed Peterborough United in the play-off semi final. As the side which finished lower in the league, Oxford hosted the first round at their home ground, the Kassam Stadium, with the second round held at Peterborough's home ground, the London Road Stadium.
The Group stage draw was finalised on 22 June 2023.[72] After coming second in the group, Oxford were drawn away to Forest Green Rovers in the second round[73] and to either Portsmouth or AFC Wimbledon in the third round.[74]