The man running Witney's Screen at the Square says the cinema could close in 18 months because of the Marriotts Close redevelopment.
John Richards said all six schemes shortlisted for going on the town centre site, in Welch Way, contained plans for a new cinema. Mr Richards, who shows films at the Corn Exchange in Market Square, said: "There is a whiff of inevitability about it. If it comes to pass -- and I suppose we're talking about between 18 months and three years time -- the way we operate, unfortunately we would have to close.
"We've had a very good run for our money -- we've had a very loyal bunch of people. But in the kindest sense, loyalty is subject to the winds."
The public has its last chance to comment on plans for the Marriotts Close site this week. Six schemes for the town centre site -- each a mixture of houses, shops, open space and a cinema -- were announced last week and will be on display today, tomorrow and Saturday at the High Street Methodist Church.
Vic Allison, finance director at West Oxfordshire District Council, said: "The council has yet to take a decision on the matter, but clearly there's public expectation for one to feature."
Large national operators like Vue, Curzon and Odeon are reportedly interested in running a cinema in Witney.
Council leader Barry Norton said: "At this stage we're not looking directly at cost. We want to listen to what the people of Witney and west Oxfordshire want."
A public meeting to discuss the schemes will be held at Henry Box School, in Church Green, on Monday at 7.30pm.
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