The college side, who had already won their Southern Division, took on their Northern counterparts in a thrilling match at The Hive London on Bank Holiday Monday.
The Young Bees raced into a two-goal lead early on through strikes from Kyan Francis and Star Mayemba but Oxford pulled one back just before the break.
The visitors then tied it up before taking the lead with 15 minutes to play through a sensational free kick from 30 yards.
However, with one minute left to play, Ayub Kadiri went a mazy run before finishing into the far bottom corner of the goal to send the match to penalties.
After missing the two of their first three penalties, Bees ‘keeper Joe Ringer produced two fines saves to send it to sudden death.
After 11 penalties apiece, including goals from the goalkeepers, the 22nd penalty proved to be decisive with the visitors firing over the bar, meaning Barnet won the shootout 9-8.
Head of the Elite Development Programme Chris Williams spoke of his joy following the title win.
“After a great season, where we had already secured the Southern Premier Division title, today was a fantastic experience for both sets of players.
“For our boys not just to win in this stadium, but to show great character after allowing a 2-0 lead to slip and to then go on and win the game on penalties, this will be an experience that our players will never forget.
“It was fantastic exposure for our Elite Development Programme. Being able to provide experiences like today is something we are very proud of at Barnet Football Club.”
Our Elite Development Programme, run in partnership with Canons High School, is now recruiting for September 2019’s intake of students. If you are in Year 11 and are looking to pursue a Football Education Post 16 programme, please contact Chris Williams on email@example.com