Grafton used to hold its horse racing meets at Mollington near Banbury before the course closed in 2007. Last year the Clarke family in Whitfield stepped in to resurrect the meeting by turning fields surrounding their farm into the region's newest point to point course.
Point-to-point racing is a three-mile, 19 fence steeplechase for amateurs.
Mickey Wills, Grafton's huntsman, led the horses out for the first race and said: "It was a privilege and an honour to take the horses out for the first time on to such a brilliant course."
Mr Wills said the course has a slight hill providing a good test for both horse and rider and providing good views for spectators.
Mr Wills added: "The Clarke family have done a brilliant job.
"The meeting was well supported. I don't know exactly how many people there were, but there were over 1,500 cars. The weather wasn't the best but it didn't dampen anyone's enthusiasm. The atmosphere was fantastic."