The big parade at the War Memorial in St Giles' is usually attended by hundreds of people.
Oxford's Remembrance Sunday service has had to be cancelled because of the coronavirus pandemic and the Government's guidelines on social gatherings.
Instead, Oxford City Council will host a pre-recorded remembrance service on its social media platforms this November.
It says Remembrance Sunday, which takes place on the second Sunday in November, is one of the 'largest and most cherished events in the city's calendar.'
Hundreds of residents would usually turn out and stand shoulder-to-shoulder with current and former service personnel to remember the fallen of past wars.
Instead, the City Council will post a special service on YouTube, Facebook, Twitter and Instagram - just before 11am on Sunday 8 November.
It says further details will be released nearer the time.
The Lord Mayor of Oxford, Councillor Craig Simmons, said: "The decision to call off this year's parade has been an extremely difficult one. It has been a fixture in Oxford's calendar for many years without fail. But these are unprecedented times and our first priority must be the safety of residents and honoured guests."
Mike Henderson, President of the Oxford City Branch of the Royal British Legion, said: "The Oxford City Group of the Royal British Legion and Oxford City Council have together made the hard decision to call off this year's parade and service in St Giles', the ongoing safety of our members and the public has to be our number one priority
"Please don't forget to still support us this year and buy a poppy as we will still remember them."