Francis Oakeley was born on 5 February 1891, the son of the Reverend James Oakeley and Frances Elizabeth Oakeley (née Eckley) of Hereford. He joined the Royal Navy as a Cadet on 15 January 1904 and was promoted to Midshipman on 15 September 1908 and to Sub Lieutenant on 30 November 1911.

He was appointed to HMS DOLPHIN for Submarine Training on 13 January 1913, to the Submarine Depot Ship HMS FORTH at Devonport on 21 April 1913 and then to the Submarine Depot Ship HMS ARROGANT at Portsmouth on 27 September 1913 and promoted to Lieutenant on 30 November 1913.

He was appointed to HMS D2 as First Lieutenant at Harwich on 26 September 1914. On the 24 November 1914 D2 sailed again for a patrol of the German Coast. The submarine did not return from patrol and was lost with all hands. It is believed that D2 was trapped in shallow water off the Ems Estuary and was destroyed by German Patrol Craft.

Francis Oakeley is commemorated on the Portsmouth Naval War Memorial on Panel No. 1. Francis Oakeley played rugby at scrumhalf and was capped for England four times in the 1913 and 1914 seasons.