Thousands of fans lined the streets to watch Oxford United players take part in a victory parade through the city.
Two open top buses set off from the Kassam Stadium at 1800 BST and travelled across to Broad Street.
Players and staff showed off the Conference promotion trophy while fans cheered in celebration of their promotion to the Football League.
Oxford won 3-1 against York at Wembley on Sunday with goals from Matt Green, James Constable and Alfie Potter.
Crowds of Oxford fans dressed in yellow and blue waved flags and clapped the players and club staff as the two parade buses made their way along the Cowley Road, Longwall Street, South Parks Road and Parks Road before arriving in Broad Street at about 1915 BST.
"Fantastic win"
BBC Oxford's Breakfast Presenter Malcolm Boyden, who hosted the event live on radio, joined the manager Chris Wilder, chairman Kelvin Thomas and players on board one of the double-decker buses.
The Lord Mayor of Oxford Mary Clarkson was the first to welcome the team back to Oxford and congratulate them on a "fantastic win".
Chairman Kelvin Thomas's voice was starting to go as he made a speech from the top of the bus.
He said he was amazed when 33,000 fans had turned out at Wembley but said the parade had "surpassed everything", and described Chris Wilder, the staff and players as "the real heroes".
Proud manager
Manager Chris Wilder reluctantly took over the microphone and said he was "humbled" to see so much support for the club.
He said: "I'm a proud manager because I've got a first-class group of players, I've got a first-class group of staff and I've got a first-class chairman.
"The chairman's been unbelievable in the way he's turned the club around and most of all we're back where we belong - we're in the Football League."
Oxford has not experienced scenes like it since 1986 when the team won the league cup final at Wembley beating Queen's Park Rangers 3-0.
Tens of thousands of fans flocked into the city to see the team that day.
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