Each year Oyster Bay PS holds a Swimming Carnival, a Cross Country Carnival and an Athletics Carnival.

The Swimming Carnival is usually hosted in Term 1 and takes place at Carss Park Swimming Centre. The day gives those competitive swimmers the opportunity to display their talents in the pool and gain selection for the Sutherland Zone Carnival. However, the focus of the Oyster Bay Swimming Carnival is just as much about participation and fun as it is competition. All students are encouraged to participate in the carnival to a degree with which they feel comfortable. Students are rewarded for going in races, not just for their results in the race. Time is given for students to enjoy a free swim and also for them to gain valuable House Points that go towards the highly sought after annual Oyster Bay House Point Shield.

The Athletics Carnival is usually hosted in Term 3 and has taken place at Barden Ridge Athletics Field in recent years. The day gives those competitive athletes the opportunity to display their throwing, jumping and running talents in 100m, 200m, 800m, shot put, discus, long jump and high jump. Students are selected on this day to represent Oyster Bay PS at the Sutherland Zone Carnival. Again, the focus of the Oyster Bay Athletics Carnival is also about participation and fun. All students are encouraged to participate in the carnival in as many activities as they are able. Students are rewarded for going in races, not just for their results in the race.