The 2015–16 season was Oxford United's sixth consecutive season in League Two and 122nd year in existence. As well as competing in League Two, the club also participated in the FA Cup, League Cup and League Trophy. The season covers the period from 1 July 2015 to 30 June 2016.

After spending most of the season in the automatic promotion places, Oxford finally confirmed promotion to League One on the last day of the regular season, with a 3–0 home victory over Wycombe Wanderers. The Us finished in second place with 86 points, 13 behind runaway leaders Northampton Town. Oxford's 14 away wins in the league set a new club record for a single season. Midfielder Kemar Roofe was the club's leading scorer, with 18 league goals and 26 in all competitions.

United beat higher-division opposition in all three senior cup competitions and reached the final of the League Trophy at Wembley Stadium, only the club's third appearance at the national stadium. In the opening round of the League Cup they eliminated Brentford of the Championship with a 4–0 away win, before losing 1–0 to another Championship side, Sheffield Wednesday, in the second round. They reached the fourth round of the FA Cup, recording a notable 3–2 victory over Premier League side Swansea City in the third round, but were knocked out of the competition by Blackburn Rovers in the next round. In their run to the final of the League Trophy, they beat local rivals Swindon Town of League One in the second round, and Millwall, also of League One, over two legs in the area semi-final, before losing 3–2 to Barnsley in the final. United won the Oxfordshire Senior Cup, beating Oxford City 6–1 in the final, three days after securing their league promotion.

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