A village on the A907 road, 4 miles (6 km) west of Dunfermline, situated at the meeting of the Comrie, Blair and Carnock burns.
Originally associated with the short-lived Oakley Iron Works, which was established in 1846, the settlement was revitalised in the 1930s after the opening of the nearby Comrie coal mine. The white-harled Church of the Most Holy Name, notable for its magnificent stained glass windows and carved 'Stations of the Cross', was built to the south of the village in 1956-8 for Roman Catholic miners who had moved from Lanarkshire to work in the more prosperous coalfields of West Fife.
Oakley has a small industrial centre, community centre and a football park (Blairwood Park) which is the home ground of Oakley United. The village is overlooked by a folly known as Blair Tower and has schools that include Inzievar School and Holy Name Primary School.