The housing will provide a range of dwelling types, sizes and tenures to meet the range of local needs, including affordable homes.
A revised planning application for the site was granted approval from Cherwell District Council's Planning Committee.
The development will form a key part of the 'garden town' plan for the area.
A spokesperson for Wates Developments and Redrow Homes said: "This is a great example of how large-scale developments can be brought forward successfully and sympathetically which local people will be proud of for years to come.
"It is more than two years since the original scheme was submitted in June 2016 and it is great testament to the extensive engagement with the local community, statutory consultees and other stakeholders, that we have seen such positive support for this revised masterplan. This extended to the Planning Committee meeting today, when Councillors praised the level and quality of our community engagement.
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"While we have changed significant aspects of the masterplan over time, the core ethos for the site has remained in place. We want to create a great place to live and work, with a strong identity of its own, but with equally strong links to Bicester and the surrounding area.
"Our aim now is to continue to work positively with all stakeholders allowing development to be brought forward swiftly and homes to be built to meet the urgent local need."
The design process has ensured the amount of open space extends to 71.64 hectares, which equates to over 50% of the overall site. Over four hectares of sports pitches are also provided in one location.
A new primary school is planned adjacent to the shops and community facility. Approximately eight play areas will be provided across the site including a destination play area which has been designed to be accessible to existing local residents, as well as new ones. Employment land provision of up to 7 hectares has been included which will could provide around 750 high-quality local jobs and a vibrant mix of uses within the scheme, together with creating a significant number of jobs through the development phase. The proposed employment land is located immediately adjacent to Symmetry Park and the employment units which have already been approved.
The project team also consulted with Historic England to redesign the area around the medieval village to the west of the site in order to better respect its setting.
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