Oblivion's score was composed by series mainstay Jeremy Soule, a video game composer whose past scores had earned him a BAFTA award in the "Game Music Category" and two nominations for an AIAS award for "Original Music Composition". Soule had worked with Bethesda and Todd Howard during the creation of Morrowind, and, in a press release announcing his return for Oblivion, Soule repeated the words he had said during Morrowind's press release: "The stunning, epic quality of The Elder Scrolls series is particularly compatible with the grand, orchestral style of music I enjoy composing the most". As in his compositions for Morrowind, Soule chose to create a soft and minimalist score so as not to wear out users' ears.
Soule stated that while composing the music he did not imagine any specific characters or events; rather, he wanted it "to comment on the human condition and the beauty of life". In a 2006 interview, he related that this desire came as a result of a car accident that occurred during his composition of the score. He said, "I ended up rolling in my car several times on an interstate while flying headlong into oncoming traffic ... I felt no fear ... I simply just acknowledged to myself that I've had a good life and I would soon have to say goodbye to all of it in a matter of seconds". Soule sustained only minor injuries, but commented that his feeling during the crash—"that life is indeed precious"—remained with him throughout the rest of the composition.
The official soundtrack to Oblivion is sold exclusively via Soule's digital distributor DirectSong. It features 26 tracks spanning 58 minutes, all composed by Soule. The soundtrack was generally positively received, though Square Enix Music Online gave it a 6/10, criticizing its "monotonous action tracks".