Firefighters from Banbury and Deddington stations put out the blaze, which had spread to the hallway, before entering the home on Park Road and leading the occupant to safety at around 2am.
An investigation found the accidental fire was caused by an electrical overheating of items near the front door.
Station manager Danny Hicks said: “This was another example of why working smoke alarms are so important.
“The home owner was woken by their smoke alarms and quickly dialed 999.
“Had it not been for the alarms the outcome of this incident could well have been much worse.
“Make it your New Year’s resolution to test your smoke alarms once a week, or call 08000 325999 if you would like any advice on safety in the home.”