
The on-loan Burnley winger ran the full length of the pitch to fire in the opener in what will go down as one of the goals of the season.
The winger had a chance early on when Derry Murkin found him with a low cross inside the area, but the winger's shot was blocked.
At the other end, Lewis Travis had to be alert to snuff out the threat posed by Stan Mills after he had brushed aside Banel in a counter-attack from a corner.
It seemed as though Oxford's plan was to put everybody behind the ball in a bid to frustrate John Eustace's side but that went out of the window in the 22nd minute as Derby took the lead with a stunning solo goal.
After an Oxford throw was cleared, Banel nipped to win possession on the edge of the box, skipped past a challenge and then surged downfield.
Brereton Diaz was screaming for the pass, but as Banel entered the Oxford half, he only had one thing on his mind as he cut inside on to his right foot after running 80 yards and smashed a wonderful finish into the bottom corner.
After the break, Sam Szmodics saw a shot deflected over the bar before the on-loan Ipswich forward made a super tackle to deny Myles Peart-Harris who had run through on goal.
Both sides traded minor blows after that miss as Derby secured all three points to keep up the pressure on the top six as Dion Sanderson and Derry Murkin looked to have picked up injuries.
Jacob Widell Zetterstrom: Didn't have a shot to save in the first half in what was a welcome return to the number one position for the Sweden international. Couldn't have asked for a more comfortable comeback. 7
Joe Ward: Swung over a few crosses that asked questions of the Oxford defence and has certainly formed a good understanding with Ben Brereton Diaz. Looked like he enjoyed himself. 7
Matt Clarke: Mr Reliable was such a cool and composed customer in the heart of the defence and even had the audacity to play a one-two in the final third. Seems to be really enjoying his football but did get away with a big mistake in the second half. 7
Derry Murkin: Back after missing the game at Southampton as a precaution and there was some cute link-up play with one moment in the first half creating a chance for Jaydon Banel. Also injured. 6
Lewis Travis: The captain still seems to be striving to find his best form and he rescued Derby when Stanley Mills threatened in the first half. Gave possession away on a couple of occasions. 6
David Ozoh: Made some crunching challenges and looked after the ball pretty well in the centre of midfield. Is such a commanding presence with his physicality. The best of the midfielders. 8
Ben Brereton Diaz: Took up some great positions and has really settled into the team on the right-hand side of the attack. Dropped in to midfield and his work ethic has to be admired. 6
Sam Szmodics: Played his part in a couple of attacking moves going forward. Couldn't fault his effort and the challenge he made on Peart-Harris in the second half was crucial. 6
Jaydon Banel: Swung and swerved his hips like a competition disco dancer. Scored a stunning individual goal and is the type of player Derby need more of. A winger who causes real panic with pace and trickery. 8
Carlton Morris: Got frustrated with himself over one chance that came his way in the first half, but Oxford could not live with his strength and his hold-up play was good. 6
Sondre Langas (Sanderson 70): Made one important tackle. 5
Oscar Fraulo (Ozoh 70): Did okay. 5
Max Johnston (Banel 86): Not enough time to make an impression.
Craig Forsyth (Murkin 90)
Lars-Jorgen Salvesen (Szmodics 90)