Last year's Harvest Festival in Kingham featured KT Tunstall, The Feeling and chef Hugh Fearnley-Whittingstall.
David and Samantha Cameron
 attended, but the event's organisers, Big Wheel, went bust, leaving 200 people a total of Â£1m out of pocket.
The new family-friendly festival will include children's entertainment.
The title of the festival is expected to be Jamie Oliver Presents the Big Feastival with Alex James.
The event at Churchill Heath Farm, where Mr James now makes cheese, will feature live and recorded music and food.
It will run from 31 August to 2 September and up to 10,000 people are expected to attend.
Organisers Taste Festivals Ltd submitted a licensing application to West Oxfordshire District Council for the event on Friday.
The application states that although the acts have yet to be finalised, the music "will reflect the family demographic the event is aimed at".
Blur bassist Alex James is planning to host a festival featuring chef Jamie Oliver at his Oxfordshire farm over the August bank holiday.