Oakwood is a village in Oakwood Township, Vermilion County, Illinois, United States. It is part of the 'Danville, Illinois Metropolitan Statistical Area'. The population was 1,502 at the 2000 census, and 1,427 in 2009.
Oakwood is located at 40°6′43″N 87°46′35″W / 40.11194°N 87.77639°W / 40.11194; -87.77639 (40.112068, -87.776352).
According to the United States Census Bureau, the village has a total area of 0.9 square miles (2.3 km²), all of it land. Oakwood got second in the 7th county basketball championship game.