New build and maintenance jobs over the next five years are now in doubt.
The review will look at building work in all areas including education, highways, fire and rescue, trading standards, social care and libraries.
The council’s £500m construction programme was due to be funded by a combination of its own cash, developer funding linked to new developments and funding from government grants.
The future of each scheme will vary depending on the type of funding planned, but the council said schemes that are already underway will continue.
Councillor Keith Mitchell, the Leader of Oxfordshire County Council, said: “It is very likely that a large part of cuts in government funding will come in the form of withdrawal of grants to pay for capital building work.
“The consequence for us at the local level is that we have to look at every job and scheme and decide which should be given priority and which we may no longer take forward in the next five years.
“We won’t make those decisions until later in the year, when we have far more detail about the precise shape and size of government funding.
“However it is only fair to tell people now that we are once again forward planning responsibly and taking a fresh look at every scheme.
“It must be stressed that we cannot yet publicly discuss this matter scheme by scheme – these are precisely the conversations we plan to have in coming weeks so as to discuss the relative importance of each scheme and make decisions about priorities. That will not be an easy task.”