Deering is a product of Oxford's youth academy
Barnet have signed midfielder Sam Deering from Oxford United on a free transfer, subject to a medical.
first arrived at Underhill
in February on a three-month loan deal.
Bees' boss Lawrie Sanchez told the club website: "We hope he can do with us what he did at the end of last season and become a fans' favourite."
A sell-on clause in Deering's contract means the U's will receive a payment if he leaves Underhill for a fee.
Deering added: "I think joining Barnet is going to be good for me and I am looking forward to getting games under my belt.
"I enjoyed my spell on loan from February and I can say that I got on well with everybody."
The youngster, who also had a loan spell at Newport County, made 14 appearances for the Bees during his loan spell, and won the club's goal of the season and young player of the season awards.