The action was taken after the Nobel peace prize recipient was widely critiqued regarding the Rohingya crisis.
The portrait which was previously displayed at the entrance of the St Hugh's College was now kept away and replaced with a new painting last Thursday.
The painting was contributed by Yoshihiro Takada, a Japanese artist.
In a statement St Hugh’s said: "The college received the gift of a new painting earlier this month (September) which will be exhibited for a period. The painting of Aung San Suu Kyi has, meanwhile, been moved to storage."
While some netizens supported the action taken by Oxford, many others expressed dissatisfaction.
One netizen said although Oxford has removed the portrait, Suu Kyi will remain in the hearts of people.
Another netizen proudly called her an 'Iron Lady’ and said that she has sacrificed for decades for Myanmar.
Suu Kyi is a former student of St Hugh's College. She completed her studies in Philosophy, Politics and Economy in 1967 before completing her Masters in Politics in 1968.
