The manor of Malshanger at Oakley or Church Oakley, during the time of the Domesday book,  was held by Walter the son of Other, who was the Governor of Windsor Castle and was also an ancestor of the house of Windsor.

The village had the earlier name of Church Oakley and a tower was added to St Leonard's church during the 16th century by Archbishop Warham, (the church is 12th century).

The church of St. Leonard is in the Perpendicular style, faced with flint and Bath stone dressings, and consists of lytch-gate, chancel, nave and aisles, square tower with four pinnacles, and containing 5 bells, the pulpit is of alabaster, and is finely chiselled; the church was rebuilt in 1869, from tlhe designs of T. H. Wyatt, at a cost of about £6,000: an organ was purchased by subscription, 1874.

 The " Malshanger aisle " contains tombs of the Warham family, one of whom was born at Malshanger in this parish, and filled offices in the state during the reigns of Henry VI 1. and Henry VIII., and was successively Keeper of the Rolls, Ambassador to Philip Duke of Burgundy, Keeper of the Broad Seal, Bishop of London, Chancellor of England, and Archbishop of Canterbury, which last honour he enjoyed twenty-eight years: there is also an ancient stained window, portraying the Archbishop. 

A Harvest Home celebration was held during the 20th century for all employees of the Malhanger Estate and all were given a sprig of oak, barley and wheat tied with red ribbon to wear in their buttonholes. A rather large feast was also laid on in the Refectory Barn after a service of thanksgiving at the church.

The village is also said to have its own ghost which appears to travellers in Shearsdown Lane.

The register dates from 1559. The living is a rectory, value £380, with residence and 26 acres of glebe, in the patronage of Queen's College, Oxford, and held by the Rev. John Monkhouse, M.A., of tliat college. Here is an endowed school, established 1666, under the will of G. Wither, esq., for the education of eight poor boys of Dean and Oakley, in reading, writing, and arithmetic, for which purpose he devised a rent-charge, at present yielding £16 per annum, together with 5 acres of land, a garden, and a residence for the master, and other property for apprenticing the children. 

There is also a National school, which was erected 1855 and enlarged 1872, on a plot of ground belonging to William W. B. Beach, esq., of Oakley Hall, capable of containing a hundred and twenty scholars, and occasionally receiving this number: the school is attended by children from Dean and East Oakley, is under the management of a trained master, who has a cottage for residence; a play-ground for the children is also attached: the school is under Government inspection. 

W. Bramston left, in 1826, £25 yearly for bread and clothing. Malshanger, the seat of Wyndham S. Portal, esq., J.P., is a modern mansion, situated in a well wooded park, and commanding an extensive and pleasant view of the surrounding country: it immediately adjoins the site of an ancient structure (of which a lofty octagonal tower is still standing), the birth-place and residence of Archbishop

Warham. Malshanger was enlarged by its present owner in 1862. In the adjoining village of Ibworth, parish of Hannington, also the property of Mr. Portal, is a small timbered house, which is still termed the " Warham Cottage." 

Oakley Hall, the seat of William Wither Bramston Beach, esq., M.P., is situated close to the South Western railway, which intersects the park: the mansion was rebuilt in 1860 upon the site of the former edifice : it is situated in the midst of an extensive and well-wooded park, covering about 300 acres. W. W. B. Beach, esq., M.P. (who is lord of the manor), and W. 8. Portal, esq., are the principal landowners. 

The population in 1871 was 239.